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virtual currencies

State Bank of Pakistan warns against trade in digital currencies

KARACHI: The State Bank of Pakistan (SBP) issued a warning, intimating public and all the concerned about potential risks of trade in virtual currencies. According to the SBP, “Virtual Currencies like Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin, Pay Diamond etc. or Initial Coin Offerings (ICO) tokens are not legal tender, issued or guaranteed by the Government of Pakistan. SBP has not authorized or licensed any individual or entity for the issuance, sale, purchase, exchange or investment in any such Virtual…