ISLAMABAD, May 30 -- Pakistan's top financial authorities have confirmed that cryptocurrency is still illegal in the country. This comes even as the government promotes digital assets like Bitcoin. The State Bank of Pakistan (SBP) and the Ministry of Finance both said crypto transactions remain banned under current laws.

Finance Secretary Imdadullah Bosal told parliament that no legal framework exists for crypto in Pakistan yet. He said a new policy would only happen if the government officially legalises crypto. Meanwhile, SBP's Sohail Jawad confirmed the central bank's 2024 directive still stands - all crypto use is illegal and referred to law enforcement.

Lawmakers expressed confusion over the government's mixed signals. Some questio...