Unified crypto industry body proposed for Pakistan

Asia Web3 Alliance Japan (AWAJ) President Hinza Asif has proposed the formation of a unified crypto industry body for Pakistan in response to recent cybersecurity concerns involving exchanges like Binance. The country's digital asset market, estimated to have between 40 million crypto-linked accounts and a $10 billion to $20 billion exposure, is facing challenges due to a lack of verified investor data and an organized representation mechanism for industry stakeholders.

The proposed body would fill this gap, particularly in the event of major cybersecurity incidents, and coordinate investor complaints with international exchanges. Asif also emphasized the need for a national digital finance platform supported by reliable market research, investor grievance mechanisms, and partnerships with international industry organizations.

Brief written by urgent.news from Dawn Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.