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State Bank warns banks, general public against use of cryptocurrencies

State Bank of Pakistan (SBP) on Monday warned the commercial banks and general banks against the use of cryptocurrencies like Bitcoin or Litecoin, ARY News reported. According to a notice issued by central bank, cryptocurriencies like Bitcoin, Litecoin, Pakcoin. OneCoin, DasCoin and Pay Diamond are neither recognized as a Legal Tender nor has SBP authorized or licensed any individual or entity for the issuance, sale, purchase, exchange or investment in any such virtual currencies or tokens in Pakistan.…