Tuesday, March 5, 2024

KP Govt. approved funds to set up Cryptocurrency Mining Plant in the province

The government of KP has approved funds to set up the province’s cryptocurrency mining plant.

The provincial government will soon begin issuing NOCs to individuals and businesses who want to mine cryptocurrencies at the state-owned facility, according to CM Science and Technology Advisor, Zia Ullah Bangash.

The Advisor said current trends indicate that in the future, digital currencies will overtake paper currencies, adding that there are significant opportunities for investment in the cryptocurrency market.

The KP Assembly unanimously passed a resolution on the legalization of crypto-currencies and crypto-mining in December 2020, becoming the first legislative assembly to do so.

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