PHC Orders Two-Month Deadline for Cryptocurrency Legislation in Pakistan

PESHAWAR: The Peshawar High Court (PHC) on Friday directed the federal government to complete cryptocurrency legislation in Pakistan within two months, urging swift regulatory action on digital trading platforms.

The directive came during the hearing of a petition filed against the illegal trade of cryptocurrency and digital forex. A division bench comprising Justice Syed Arshad Ali and Justice Khurshid Iqbal presided over the proceedings.

During the hearing, the Deputy Attorney General informed the court that the government is currently drafting legislation on the matter and requested an extension of one month. However, Justice Syed Arshad Ali responded firmly, stating, “We are granting two months — ensure the legislation is completed within this time frame.”

The PHC bench ordered the federal government to enact the necessary cryptocurrency legislation in Pakistan and submit a compliance report to the court upon completion.

Notably, this court directive comes nearly three weeks after the inaugural meeting of the Pakistan Crypto Council, where stakeholders discussed the country’s untapped potential in the crypto space. The court’s order further amplifies the urgency to regulate the sector and support a legal environment that encourages innovation while ensuring consumer protection.