Government has approved country’s first ever crypto mining farm strictly on ‘Research and Development’ basis.
As per details, renowned celebrity and social media activist Waqar Zaka has installed Pakistan’s first ever crypto mining farm after securing approval from Khyber Pakhtunkhwa (KP) government.
However, it is to be noted that the crypto mining farm which will utilize hydropower, is ‘strictly restricted’ for R&D purpose and no one is allowed to ‘invest’ in it yet.
Let me clear the confusion. crypto mining is an RnD project allowed by KP Govt, it does not mean that now anyone can use mining machines in KP, or crypto mining is legal in KP , u cannot mine crypto anywhere in Pakistan untill federal Govt allows it.
— Waqar Zaka (@ZakaWaqar) March 25, 2021
Crypto mining updates pic.twitter.com/Z5UzODbMyY
— Waqar Zaka (@ZakaWaqar) March 25, 2021
FIA will take action against anyone who indulges into crypto mining in Pakistan, Waqar Zaka clarified.
Federal government has not yet approved crypto mining, only KP government has allowed it for ‘monitoring’ purposes, he added.
The development comes as earlier, Zia Ullah Bangash – SAPM on Science and Technology to Chief Minister KP, launched Pakistan’s first advisory committee for cryptocurrency and crypto mining on March 17th earlier this month.
KP Assembly had also passed a resolution in December 2020 last year calling for legalization of crypto currency and crypto mining.
