- The Governor of State Bank of Pakistan stated an interesting opinion on cryptocurrencies.
- The statement implied a negative point of view as the governor explained their approach.
- The governor also discussed the financial state of Pakistan in general.
Governor of State Bank of Pakistan (SBP) Riza Baqir announced a surprising yet very interesting opinion on cryptocurrencies. The announcement took place in a panel discussion on the 13th Karachi Literature Festival.
Dr. Baqir discussed during the panel that the technology behind crypto is “absolutely useful” and that it has the potential to solve a lot of the world’s current financial problems. Yet, he also said that every new thing has benefits and risks. He claimed that it is his job to keep the balance and make judgments of whether these benefits overweigh the risks.
The panel speaker also questioned the lack of visibility in crypto as a risk, saying:
There is no way that the regulator or a law enforcement agency has visibility on who is doing transactions and for what purpose. And, therefo ...