KP government has approved funds for setting up a cryptocurrency mining plant in the province.
According to Advisor to CM on Science and Technology, Zia Ullah Bangash, the provincial government will soon start issuing NOCs to individuals and businesses who want to mine cryptocurrencies at the state-owned plant.
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The Advisor said that current trends suggest that digital currencies will replace paper currencies in the future, adding that there are tremendous investment opportunities in the field of cryptocurrencies.
In December 2020, KP Assembly had unanimously passed a resolution on legalizing cryptocurrencies and crypto-mining, becoming the first legislative assembly to do so.
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The resolution called on the federal government to officially register and introduce cryptocurrencies in the country after enacting necessary legislation.
Note that several central banks around the world have already registered and issued cryptocurrencies. Many countries, including the US, have also taken concrete steps towards introducing and legalizing cryptocurrencies.
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