KP govt approves funds to establish cryptocurrency mining plant

The Khyber Pakhtunkhwa (KP) government has approved funds for establishing a cryptocurrency mining plant after the province decided to hand out No Objection Certificates (NOCs) to interested businesses.

In this regard, KP Advisor on Information Technology, Ziaullah Bangash, while speaking to a local media channel said that the provincial government has approved the release of funds needed to establish a plant for mining.

It is pertinent to mention here that cryptocurrency is a decentralised means of carrying out transaction virtually, and is not regulated by federal governments and banks, while people can create them via mining.

"We will issue no-objection certificates to individuals who want to mine for the currency on their own as well," Bangash said, adding that the world is adapting to new changes fast and their affinity towards cryptocurrency means there is a great opportunity for investments in this field.

"We have already passed the bill for it from our KP assembly," he informed.