The price of a Bitcoin moved past $60,000 on Saturday for the first time in its history. With more than 900% return in a year, it has become the choice of many investors as conventional investments (bonds, equities, and commodities for example) failed to generate enough profit amid a global financial crunch. Caught in fear of missing out, Pakistani investors have asked us repeatedly if it is a criminal offence to buy, possess, trade, and mine cryptocurrencies in Pakistan. What laws cover this subject and what are the penalties in case of a violation, they asked. In this video, SAMAA Money Editor Farooq Baloch speaks to experts on information security and cybercrime who answer these questions and analyze the legal status of cryptocurrency in Pakistan.
Disclaimer: The sole purpose of this report is to educate our readers and viewers about aspects of personal finance. The information provided on SAMAA Digitals platforms is not meant to be taken as financial advice. SAMAA digital doesn't necessarily agree with guest speakers' views. Please always independently verify or check information being provided before making any investment decision or undertaking any financial transaction.