Pakistan’s Central Bank Tells Banks to Cut Ties to Cryptocurrencies
Tuesday, April 10, 2018
By James McQuillan
This month has seen the Reserve Bank of India turn its bank on cryptocurrency-related accounts. In a new development, the State Bank of Pakistan (SBP), the country’s central bank, advised Pakistani citizens not to transact in cryptocurrencies, while telling banks and financial institutions not to facilitate crypto-related business.
In a statement published on the central bank’s website, it states cryptocurrencies are not recognized as legal tender.
Photo courtesy of fsecart.
