Pakistan court reins in FIA, central bank over digital currency ban Business
The Sindh High Court in Pakistan has heard a petition filed in opposition to a nationwide ban on cryptocurrencies, giving fresh insight into the legal position for digital assets in the country.
In critical remarks against the country’s central bank and leading investigative authority, the judge said individuals must be allowed to get on with their business, free from undue interference from state agencies, according to reports from local media outlets.
In particular, the court singled out the federal enforcement agency and the country’s central bank for their role in what amounts to a de facto ban on digital currencies in Pakistan.
Estonia: Over 1,000 digital currency startups lost license in 2020 Business
Over 1,000 cryptocurrency startups in Estonia lost their license in 2020 after a busy year for the regulator, according to figures emerging from the Ministry of Finance.
At a meeting of the Government Anti-Money Laundering Commission, Finance minister Veiko Tali was quoted saying the figures were evidence digital currency firms required “heightened attention” from regulators to ensure compliance.
It comes after Estonia emerged as an alternative jurisdiction for digital currency companies, providing a licensing regime which had proved popular with regional startups in the sector. After issuing a flurry of licenses in the past year, the authorities have been faced with monitoring and enforcing compliance often against companies with little tangible connection to the country.