The Daily Leo | Pakistan creates Digital Asset Authority to regulate crypto
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Pakistan creates Digital Asset Authority to regulate crypto
Pakistan seems to be taking a lead on crypto adoption, so the country has officially established the Pakistan Digital Assets Authority (PDAA). This is done to regulate the cryptocurrency and blockchain sector which is a big move. This newly created government authority will be looking at licensing for exchanges, wallets, DeFi applications, etc. while prioritising compliance and consumer protection
Kraken is a globally popular cryptocurrency exchange. The exchange has now announced the launch of xStocks. This is an initiative to offer tokenized versions of US stocks and ETFs and this will be happening on the solana blockchain. They announced on May 22, 2025, its plan to launch tokenized versions of popular US-listed stocks and exchange-traded funds
Bitcoin is a digital gold and currently, its price is above 110k USD which is its all-time high price. People are anticipating that Bitcoin price will be worth 150k USD or more this year and Bitcoin is in the bullish cycle as of now. It seems like Bitcoin is going up because there is a lot of demand for this in the market. Many companies and institutions are buying Bitcoin to make it part of their portfolio and also show in their balance sheet. This is a good sign that such buying is not for the short term and generally, those companies will keep it for the long term. Also, the bitcoin supply is reducing on exchnages because many people are moving their bitcoins to hardware wallets
Cryptocurrency is a growing segment or asset class but still, there are discussions about it. Its a Commodity or a Currency is still a matter of debate and different countries have different opinions. Many countries are considering it as an asset and not a currency because they don't want their fiat current to be affected. Let's see what the majority of countries decide about it and how they want to move forward.
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