Is Cryptocurrency Legal in Pakistan—this question is more relevant in 2024 than ever before. As more people get involved in digital currencies like Bitcoin and Ethereum, Pakistanis are also eager to know whether they can legally buy, sell, or invest in crypto. In this guide, we’ll explain the legal landscape, answer popular questions, and show how Pakistan compares to other countries in crypto regulation.
Understanding Cryptocurrency and Its Global Legality
What Is Cryptocurrency and How Does It Work?
Cryptocurrency is a digital asset that operates independently of traditional banks. It uses blockchain technology for secure and transparent transactions. Popular cryptocurrencies include:
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Bitcoin (BTC)
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Ethereum (ETH)
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Tether (USDT)
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Binance Coin (BNB)
These digital currencies are increasingly accepted in many places across the globe.
Cryptocurrency Legal Countries List 2024 vs. 2025
Here’s a snapshot comparing where cryptocurrency is legal in 2024 across major countries:
Cryptocurrency Legal Status by Country (2024)
| Country | Legal Status (2024) | Can Use Binance? |
|---|---|---|
| United States | Legal & Regulated | Yes |
| Canada | Legal & Regulated | Yes |
| Japan | Legal & Regulated | Yes |
| Germany | Legal & Regulated | Yes |
| United Kingdom | Legal | Yes |
| Australia | Legal | Yes |
| Pakistan | Unregulated | Limited Access |
| India | Regulated with Restrictions | Yes (with restrictions) |
| Nigeria | Legal | Yes |
| China | Banned | No |
This table will likely shift in 2025 as more countries adapt their legal frameworks—so keep an eye on the cryptocurrency legal countries list 2025 for the latest.
Is Cryptocurrency Legal in Pakistan Right Now?
Government Regulations and SBP’s Position
So, is cryptocurrency legal in Pakistan today? The answer is: not exactly. The State Bank of Pakistan (SBP) does not officially support or regulate crypto. In 2018, it prohibited financial institutions from processing crypto transactions, effectively blocking Pakistan crypto exchange operations through banks.
However, owning crypto is not a criminal offense. Many individuals still use peer-to-peer platforms like Binance and LocalBitcoins despite the restrictions.
Can I Use Binance in Pakistan?
Technically, Binance is not banned in Pakistan, but you cannot use local banks to deposit or withdraw funds from the platform. So, Can I use Binance in Pakistan? Yes, but only via alternative methods like crypto wallets or P2P transfers.
Common Questions About Bitcoin and Crypto Legality in Pakistan
Is It Legal to Buy Bitcoin in Pakistan?
Is it legal to buy Bitcoin in Pakistan? Currently, there is no law that bans individuals from buying Bitcoin. However, it’s done at the buyer’s risk since crypto is not officially regulated.
Can Pakistan Use Cryptocurrency for Trade?
Right now, Can Pakistan use cryptocurrency for trade or commerce? Not in any official capacity. Businesses cannot legally accept crypto payments under current law.
Why Is Crypto Banned in Pakistan?
While crypto is not technically “banned,” it is restricted due to concerns like:
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Money laundering
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Terror financing
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Consumer protection
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Volatility
This leads many to ask, Why is crypto banned in Pakistan? The short answer: fear of misuse and lack of control.
Is Crypto Halal or Haram? What Islam Says
Is Crypto Halal in Pakistan?
Islamic scholars are divided on crypto. Some believe it’s halal because it’s a legitimate form of wealth. Others see it as risky speculation.
Is Bitcoin Halal in Islam?
According to some Islamic finance experts, Bitcoin is halal in Islam if used responsibly and ethically. However, the issue remains debated.
Is Crypto Haram Yes or No?
There is no unanimous answer. Some scholars say crypto is haram, especially when it’s used for gambling or speculation. Others disagree. So, is crypto haram yes or no? It depends on interpretation.
Is Crypto Like Gambling?
While crypto involves risk, it is not necessarily gambling if you’re investing with knowledge and caution. That said, frequent trading for quick profits can resemble gambling behavior.
Safe Ways to Store and Trade Cryptocurrency in Pakistan
Which Wallet Is Best in Pakistan?
Here are some secure wallets used by Pakistanis:
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Trust Wallet
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MetaMask
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Ledger (hardware wallet)
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Binance Wallet (with limited access)
Is Crypto.com Safe?
Yes, Crypto.com is considered a secure platform globally, but Pakistani users face access limitations due to SBP regulations.
Understanding Bitcoin Laws and Global Usage
Top 10 Countries That Use Bitcoin
Here are the top 10 countries that use Bitcoin actively:
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United States
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Nigeria
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India
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Vietnam
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Philippines
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Ukraine
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Germany
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Canada
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Turkey
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Brazil
Pakistan does not yet rank among the top 10 but has a growing user base.
Overview of Bitcoin Laws Worldwide
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United States: Legal and taxed as property
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Japan: Legal and regulated
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China: Completely banned
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Germany: Legal as private money
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Pakistan: Unregulated, limited use
If you’re wondering, “How much is 1 Binance in Pakistan?”—this depends on market rates, but it’s roughly equal to the price of BNB in PKR using peer-to-peer markets.
The Future: Will Cryptocurrency Become Legal in Pakistan?
Government Working on Regulation
As FATF pushes for financial transparency, Pakistan is slowly working on a crypto policy. The Finance Ministry, FBR, and SECP are involved in shaping future laws.
What to Expect in 2025
By 2025, Pakistan may:
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License local crypto exchanges
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Impose crypto taxes
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Create legal protections for users
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Be listed on the cryptocurrency legal countries list 2025
Is USDT Legal in Pakistan?
Like other cryptocurrencies, USDT (Tether) is not officially legal but widely used on P2P platforms. Is USDT legal in Pakistan? Not yet, but it’s commonly traded without government endorsement.
Conclusion : Is Cryptocurrency Legal in Pakistan
So, is cryptocurrency legal in Pakistan? Not officially, but it isn’t outright illegal either. You can buy and trade crypto at your own risk through peer-to-peer platforms, but without any legal protection.
As the global crypto landscape evolves, Pakistan might soon follow suit—especially under pressure from international organizations and local demand.
Until then, stay informed, trade cautiously, and always use secure platforms.
For the latest updates on cryptocurrency regulations and fintech developments in Pakistan, MediaBites remains one of Lahore’s most trusted media news sources.
