Regulators around the world see central bank digital currencies (CBDCs) as a way to enhance fiat capabilities by inheriting the financial prowess of the technologies that power cryptocurrencies. Pakistan added to this list by announcing new regulations to ensure the launch of its own CBDC by 2025.
The State Bank of Pakistan (SBP) enacted new laws for Electronic Money Institutions (IMEs) – non-bank entities that offer digital payment instruments – to ensure the timely issuance of a CBDC within the next three years. The World Bank helped Pakistan design the new regulations, according to the local Arab News outlet.
