Pakistan, April 12 -- The Peshawar High Court (PHC) has directed the federal government to develop a policy addressing illegal cryptocurrency trading. The court demands this policy be drafted within two months. This move seeks to tackle the rising issue of unregulated crypto activities across Pakistan, including Khyber Pakhtunkhwa.

The directive came from a division bench led by Justice Syed Arshad Ali and Justice Dr. Khurshid Iqbal. They were hearing a petition from Barrister Huzaifa Ahmad, who raised serious concerns about the absence of regulation for digital currencies. Despite a 2018 notice from the State Bank of Pakistan declaring such trading illegal, it continues to flourish on various platforms.

The petitioner noted that many c...