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Israel’s interception of Gaza flotilla draws global ire as Pakistan demands release of detained activists

  Pakistan and several other  countries  on Thursday condemned Israel’s “dastardly attack” on the  Global Sumud Flotilla  (GSF) after its forces intercepted the flotilla heading to break Israel’s siege of Gaza and deliver aid. Israeli forces  began intercepting  the flotilla’s latest bid to reach Gaza late last night, the fleet said. Israel has so far intercepted 39 boats with foreign activists on board to Gaza, leaving only one vessel still sailing towards the Palestinian enclave, the flotilla organisers said today. The 45-vessel flotilla, with activists and politicians including  Greta Thunberg  on board, left Spain last month to break Israel’s blockade of Gaza, where the United Nations has warned of famine. Former Pakistani senator  Mushtaq Ahmad Khan  was also on board. Hours after Tel Aviv’s move drew global condemnation, Israeli foreign ministry posted on X that all on board the flotilla were safe would be “deported to Europe”...
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Pakistan to Formalise Cryptocurrency Roll-Out Regulatory Framework



Pakistan is taking significant steps towards the formalisation of a regulatory framework for cryptocurrency, aiming to create a structured environment for digital assets in the country. This initiative comes in response to the growing popularity of cryptocurrencies among the Pakistani population, particularly among the youth. The government recognizes the need to regulate this emerging sector to ensure consumer protection, prevent fraud, and facilitate innovation within the financial technology landscape.


The regulatory framework is expected to address various aspects of cryptocurrency usage, including trading, taxation, and compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. By establishing clear guidelines, the government aims to create a safer environment for investors and businesses involved in cryptocurrency transactions. This move is seen as a crucial step in integrating digital currencies into the mainstream financial system of Pakistan.


In recent years, the use of cryptocurrencies has surged in Pakistan, with many individuals investing in digital assets as a means of wealth creation. However, the lack of regulation has led to concerns about the potential for scams and market manipulation. The proposed framework seeks to mitigate these risks by implementing robust regulatory measures that will hold market participants accountable and ensure transparency in cryptocurrency transactions.


The State Bank of Pakistan (SBP) has been actively involved in discussions regarding the regulatory framework. The central bank has previously issued warnings about the risks associated with cryptocurrency investments, but it is now shifting towards a more constructive approach by exploring ways to regulate the sector effectively. This change in stance indicates a recognition of the potential benefits that cryptocurrencies can bring to the economy, such as increased financial inclusion and innovation.


Moreover, the formalisation of a regulatory framework is expected to attract foreign investment in Pakistan's cryptocurrency market. By providing a clear legal structure, the government can instill confidence in international investors, encouraging them to participate in the burgeoning digital economy. This influx of investment could lead to job creation and technological advancements within the country.


In conclusion, Pakistan's move to formalise a regulatory framework for cryptocurrency represents a significant shift in its approach to digital assets. By establishing clear guidelines and regulations, the government aims to foster a safe and innovative environment for cryptocurrency users while addressing the associated risks. As the framework develops, it will be essential for stakeholders to engage in constructive dialogue to ensure that the regulations support the growth of the digital economy while protecting consumers.


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