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CoinVoice has recently learned that, according to Cointelegraph, the federal government of Pakistan has officially established the Pakistan Virtual Asset Regulatory Authority (PVARA). This agency will serve as an independent regulatory authority responsible for the licensing, supervision, and compliance management of the country's digital asset industry. Finance Minister Mohammad Aurangzeb stated that this move aims to establish a forward-looking regulatory framework to protect consumers and attract global investment.
Previously, Pakistan allocated 2000 megawatts of electricity for the construction of Bitcoin mining and artificial intelligence centers. The plan received support from the Ministry of Finance but faced opposition from the International Monetary Fund (IMF).