{"id":125615,"date":"2025-03-22T17:16:48","date_gmt":"2025-03-22T17:16:48","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125615"},"modified":"2025-03-22T17:16:48","modified_gmt":"2025-03-22T17:16:48","slug":"pakistan-crypto-council-proposes-using-excess-energy-for-btc-mining","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125615","title":{"rendered":"Pakistan Crypto Council proposes using excess energy for BTC mining"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBilal Bin Saqib, the CEO of Pakistan&#8217;s Crypto Council, has proposed using the country&#8217;s runoff energy to fuel Bitcoin (BTC) mining at the Crypto Council&#8217;s inaugural meeting on March 21.<br \/>\nAccording to an article from The Nation, the council is exploring comprehensive regulatory frameworks for cryptocurrencies to attract foreign direct investment and establish Pakistan as a crypto hub.<br \/>\nThe meeting included lawmakers, the Bank of Pakistan&#8217;s governor, the chairman of Pakistan&#8217;s Securities and Exchange Commission (SECP), and the federal information technology secretary. Senator Muhammad Aurangzeb had this to say about the meeting:<br \/>\n\u201cThis is the beginning of a new digital chapter for our economy. We are committed to building a transparent, future-ready financial ecosystem that attracts investment, empowers our youth, and puts Pakistan on the global map as a leader in emerging technologies.\u201d<br \/>\nThe Crypto Council represents a radical departure from the government of Pakistan&#8217;s previous stance on crypto. In May 2023, former minister of state for finance and revenue, Aisha Ghaus Pasha said crypto would never be legal in the country.<br \/>\nPasha cited anti-money laundering restrictions under the Financial Action Task Force (FATF) as the primary motivation for the government&#8217;s anti-crypto stance.<br \/>\nThe presence of Bitcoin miners can stabilize electrical grids. Source: Science Direct Related: Pakistan eyes crypto legal framework to boost foreign investment<br \/>\nPakistan follows the United States in embracing crypto<br \/>\nThe government of Pakistan moved to regulate cryptocurrencies as legal tender on Nov. 4, 2024 \u2014 the same day as the elections in the United States.<br \/>\nFollowing the re-election of Donald Trump in the US and the Jan. 20 inauguration, Trump moved quickly to establish pro-crypto policies at the federal level.<br \/>\nOn Jan. 23, President Trump signed an executive order establishing the Working Group on Digital Assets \u2014 an executive advisory council tasked with exploring comprehensive regulatory reform on digital assets.<br \/>\nPresident Trump signs executive order establishing the President\u2019s Working Group on Digital Assets. Source: The White HouseThe Jan. 23 order also prohibited the government from researching, developing, or issuing a central bank digital currency (CBDC).<br \/>\nPresident Trump also signed an executive order creating a Bitcoin strategic reserve and a separate digital asset stockpile in March 2025 that will likely include cryptocurrencies made by US-based firms.<br \/>\nMagazine: How crypto laws are changing across the world in 2025<a href=\"https:\/\/cointelegraph.com\/news\/pakistan-crypto-council-proposes-excess-energy-btc-mining?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBilal Bin Saqib, the CEO of Pakistan&#8217;s Crypto Council, has proposed using the country&#8217;s runoff energy to fuel Bitcoin (BTC) mining at the Crypto Council&#8217;s inaugural meeting on&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125615"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125615"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125615\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125615"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}