Pakistan’s Senate Finance Committee has proposed banning virtual asset regulators from investing in cryptocurrencies. The goal is to prevent conflicts of interest and ensure neutrality. The proposal also includes stricter leadership requirements (at least 5 years of crypto experience, under 55 years of age) and transferring oversight to the Ministry of Finance.

Trust in halal finance is built on transparency and integrity of market participators. But it is equally clear that state bodies seeking to regulate the crypto market must themselves be regulated.

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