21 Mar, 2025

Pakistan Eyes Bitcoin Mining to Leverage Surplus Energy

Key Takeaways● Pakistan is exploring Bitcoin mining by utilizing surplus energy to attract investment and establish a foothold in the digital asset space.● The formation of the Pakistan Crypto Council signals a shift from the government's previous anti-crypto stance.● The initiative aligns with global trends, particularly in the United States, where regulatory frameworks are being reshaped to support cryptocurrency adoption.● Pakistan aims to develop a transparent and responsible crypto ecosystem to encourage foreign direct investment.Pakistan is positioning itself as a contender in the global cryptocurrency landscape by proposing Bitcoin mining operations powered by unused energy reserves. This initiative, led by the Pakistan Crypto Council (PCC), reflects a growing acceptance of digital assets within the country’s financial sector.The council’s inaugural meeting on March 21, chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, brought together key government and financial figures. At the event, Bilal Bin Saqib, CEO of the Pakistan Crypto Council, laid out a vision for integrating Bitcoin mining into Pakistan’s energy strategy.“This is the beginning of a new digital chapter for our economy. We are committed to building a transparent, future-ready financial ecosystem that attracts investment, empowers our youth, and puts Pakistan on the global map as a leader in emerging technologies,” said Senator Aurangzeb.A Political Shift Towards CryptoThe establishment of the PCC marks a significant shift in Pakistan’s stance on digital assets. In May 2023, then-Minister of State for Finance and Revenue, Aisha Ghaus Pasha, asserted that cryptocurrencies would never be legalized due to concerns over anti-money laundering (AML) compliance and Financial Action Task Force (FATF) regulations. However, in a move signaling a new direction, Pakistan initiated the process of regulating cryptocurrencies as legal tender on November 4, 2024.The Potential of Bitcoin Mining in PakistanWith an abundant yet underutilized energy supply, Pakistan sees Bitcoin mining as a strategic avenue to attract foreign investment and stimulate economic growth. The PCC aims to craft a regulatory framework that ensures responsible digital asset adoption while maximizing the country’s energy resources.High-ranking officials, including the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission (SECP), and the Federal Secretary of IT, attended the council’s first meeting. Discussions emphasized the importance of balancing global best practices with Pakistan’s economic realities. The goal is to develop a regulatory framework that enhances investor confidence and fosters a thriving crypto ecosystem.Pakistan Aligns with Global Crypto TrendsPakistan’s evolving crypto stance mirrors developments in the United States, where regulatory policies are shifting toward broader digital asset adoption. On January 23, 2025, President Donald Trump signed an executive order forming the Working Group on Digital Assets, tasked with regulatory reforms. Additionally, in March 2025, an order was issued to establish a Bitcoin strategic reserve and a separate stockpile for digital assets.These global movements underscore the increasing mainstream acceptance of Bitcoin and other cryptocurrencies. By capitalizing on surplus energy for mining, Pakistan seeks to establish itself as a regional hub for digital assets, paving the way for economic innovation and international investment.

19 Mar, 2025

Ripple Wins Landmark Case Against SEC, XRP Price Surges

Ripple Labs, the company behind XRP, scored a decisive victory yesterday when the U.S. Securities and Exchange Commission (SEC) unexpectedly dropped its longstanding lawsuit, marking a major turning point in the cryptocurrency industry's regulatory landscape.Since the lawsuit began in December 2020, the crypto market closely watched developments, viewing the SEC's case as a crucial test that could shape the future of cryptocurrency regulation in the United States. Initially, the SEC accused Ripple of conducting an unregistered securities offering worth approximately $1.3 billion through XRP sales, creating uncertainty that negatively impacted XRP’s market valuation and investor confidence.However, Ripple gained partial clarity in July 2023, when U.S. District Judge Analisa Torres differentiated between institutional XRP sales, considered securities, and programmatic sales via public exchanges, which she ruled did not constitute securities offerings. The SEC subsequently appealed, prolonging uncertainty until yesterday's decision to fully withdraw the case, effectively ending litigation against Ripple.The crypto market reacted immediately and positively to this significant regulatory shift. XRP, the digital token associated with Ripple, surged approximately 13.73%, reaching as high as $2.54 shortly after the announcement. This rapid price appreciation reflected renewed investor confidence, signaling that the resolution was largely perceived as a major step toward clarity and regulatory stability.Ripple CEO Brad Garlinghouse underscored the importance of the moment, stating clearly, "I'm finally able to announce that this case has ended—it's over," highlighting the company's newfound freedom to focus fully on strategic business initiatives without legal distractions.Beyond XRP, major cryptocurrencies including Bitcoin and Ethereum also benefited from the improved sentiment, with Bitcoin rising by 2.2% to around $84,096 and Ethereum up by approximately 6.6%, trading above $2,031. This broader market reaction indicates the case's significance was widely recognized, alleviating broader fears of overly restrictive regulatory oversight.Analysts and industry experts view this outcome as critical for cryptocurrency adoption in the United States, anticipating increased institutional investor interest and greater innovation across digital asset markets. The conclusion of the Ripple-SEC litigation has established a clearer precedent, suggesting digital assets sold on public exchanges might not automatically be considered securities—a viewpoint that could positively influence future regulatory frameworks.However, some analysts warn that despite this major victory, cryptocurrencies must now deliver practical utility and compliance assurances to sustain investor interest and regulatory confidence. The focus will shift toward long-term market sustainability, practical use cases, and ongoing dialogue between regulators and crypto industry participants.