Coinspeaker
Pakistan Set Up New Laws to Fastrack CBDC Launch
Pakistan might be the latest in a long list of countries looking to harness the potential of using central bank-issued digital currencies (CBDC). This follows after it announced new regulations in hopes that they will ensure a successful CBDC launch by 2025.
Pakistan Approves New EMI Laws, Eyes CBDC Launch
As part of its efforts in this regard, the first aspect that Pakistan is looking to secure is the time frame within which it hopes to complete the CBDC launch. According to a local media report by Arab News, the State Bank of Pakistan (SBP) has already signed a new law that will license and regulate Electronic Money Institutions (EMIs). This means that the EMIs – which are non-bank entities, are required to obtain the said license before they are allowed to issue e-Money for the purpose of digital payments. So, essentially, while Pakistan continues on its financial technology revolution, it also wants to ensure that its C
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