SHC constitutes committee to oversee crypto regulation

The Sindh High Court (SHC) on Wednesday heard the cryptocurrency ban case and constituted a high power committee to furnish a report on possible regulation of blockchain-protected transactions.

According to a local media channel, the provincial court summoned the deputy governor of the central bank, Securities and Exchange Commission of Pakistan (SECP) head, finance secretary and federal investigation agency director and put together a team to chart recommendations within three months.

The committee will have to furnish its report on the legal framework of the cryptocurrencies according to the court order.

Moreover, the bench also ordered to present before the court a report on companies carrying out transactions and trade in illegal currencies.

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