Crypto exchange urges Pakistani authorities to tax digital assets: report
Pakistani crypto exchange RAIN has urged the country’s finance ministry to regulate and impose a 15% tax on cryptocurrencies, local media reported.
See related article: Pakistan takes a fresh look at cryptocurrency
Fast facts
- RAIN told regulators that Pakistan can earn roughly US$90 million in taxes through a capital gains tax on crypto assets, according to the local media report.
- RAIN General Manager Zeeshan Ahmed pointed out that other countries, like India and the U.S., are earning billions of dollars in taxes, and Pakistan should consider treating crypto transactions as legal and be placed under regulations, according to local media.
- The government may take 12 to 18 months to make up its mind about it, Ahmed told local media.
See related article: Pakistani central bank echoes RBI’s concerns over crypto
