The Khyber-Pakhtunkhwa government has dissolved the Advisory Committee on Digital Assets as the decision on cryptocurrency can only be exercised by the federal government.
The government of the said province launched Pakistan’s first advisory committee for digital currency and crypto mining, signifying a significant step for the province’s plans on forming a set of rules to control the adoption of cryptocurrency and crypto mining.
Read more: The government of KPK appoints Waqar Zaka as Crypto Expert
An inaugural conference of the committee was hosted as well. However, according to the Science and Technology Department of the province, the federal administration has the prerogative over cryptocurrency, and hence, the decision on digital currency will be taken by the center as well.
“As per provisions of the Fourth Schedule, Article 70 (4) clause (8) currency, coinage and legal tender on the Federal Legislative List Part 1 of the Constitution of Pakistan is the sole prerogative of the Federal government. The currency includes metal, paper, plastic, digital, etc.… Whereas, the Digitization including Information Technology is the mandate of the IT board is being carried out by the Khyber Pakhtunkhwa IT Board,” read the notification.
Read more: Pakistan’s first-ever Crypto Advisory Committee formed in KPK
Consequently, the Advisory Committee established on 9th February 2021 is dissolved and the sub-committees created as an outcome stand dissolved. It added that the interest of Digital Assets at associated matters will be presented for consideration of the Provincial Cabinet according to the rules of business of the provincial assembly.
Moreover, the statement further announced that Science and Technology Advisor Ziaullah Bangash has also resigned. It should be noted that popular media figure, Waqar Zaka and other provincial members were among the members of the Advisory Committee.