Legal Insights of Crypto-currency Market and State of Crypto-currency in Pakistan


  • Ghazia Khoula Qureshi
  • Muhammad Waheed U Zaman
  • Saif Ur Rahman
  • Hafiza Nabila Shahzadi


Crypto-currency, Fintech, Financial Asset, Block-chain Exchanges, Pakistan


Crypto-currency as a medium of exchange, store of value and unit of account is still under question. However holding unique features and scarcity makes it interesting notion to study in financial academia. Although there is an ongoing debate among different schools of thought, whether take it as a currency or a viable addition to the existing financial asset classes. The study intends to highlight the insights of crypto-currency market with respect to different countries. The study covers various aspects of registration, legislation, taxation and regulation of crypto-currency and its exchanges. Secondly it aims to explore the state and scope of crypto-currency market in Pakistan. To keep on the pace of the world, every country is heading towards adopting such technologies and is bound to welcome what is being offered to it, since no country can survive in isolation. Crypto-currency is one of those offered avenues to transform financial markets through digitalization and Fintech, which definitely will take time but of-course the journey has begun. Sooner or later Pakistan and other emerging countries would have to accept and legalize crypto-currency and such technologies. The state of any country may not regulate crypto-currency due to its nature but still it can regulate the block-chain and exchanges of crypto-currency. Moreover, crypto-currency is deemed to be considered as an asset rather than currency. Hence, there should be specific financial and taxation laws regarding crypto-currency and any gain on crypto-currency should be taxed as any realized income is being taxed.