Karachi (Monitoring Desk) State Bank of Pakistan has proposed a complete ban on the corrupt currency. According to the Express Tribune, a committee headed by the Deputy Governor of the State Bank of Pakistan was set up in this regard and presented its report before the Sindh High Court. The report suggests that allowing cryptocurrency would promote capital transfers and money laundering.
The report recommended to the two-member bench of the Sindh High Court hearing the digital currency case that a complete ban should be imposed on any kind of corrupt currency transactions and all related activities in the country. ۔ Remarking on the report, Justice KK Agha said that in order to impose a complete ban on cryptocurrency, the court should be informed about the legal and constitutional aspects of the ban. The 38-page report has been sent to the Ministry of Finance and the Ministry of Law for review