IMF Raises Concerns Over Pakistan Energy Use for Crypto Mining
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IMF Raises Concerns Over Pakistan Energy Use for Crypto Mining IMF questions Pakistan’s plan to allocate electricity for crypto mining. Pakistan launches national Bitcoin reserve and digital wallet at Bitcoin Vegas. IMF demands a clear crypto legal framework amid energy and policy concerns. The International Monetary Fund (IMF) has expressed concern over Pakistan’s plan to allocate 2,000 megawatts of electricity for Bitcoin mining and artificial intelligence (AI) data centers. The government has made this move during budget talks. On the other hand, it is in negotiations with the IMF for a new financial program. IMF Demands Details on Pakistan’s Crypto Legal Framework Pakistan has confirmed that it is forming its national Bitcoin reserve at the Bitcoin Vegas 2025 conference. The country set up a national Bitcoin wallet. Bilal bin Saqib, the crypto adviser to the Prime Minister, said that the country wants to develop into a center of digital finance and technology. He said that major initiatives in the energy sector would back the expansion of digital assets. According to the local report, the IMF has responded very quickly to this announcement. Officials say it has asked the Finance Ministry to provide details on how the crypto policy is implemented and its legal basis. This is very worrying now, as Pakistan is already facing energy troubles and has restricted resources. Reports from inside the Finance Ministry say that the IMF was excluded from the preparation of the new economic action plan. Also, there are no formal government policies for regulating cryptocurrency in place. There is no currently clear plan for setting electricity rates and distributing power. The IMF has reportedly informed Pakistan that any important reforms taken under the Extended Fund Facility (EFF) must be agreed upon with the Fund. For this reason, such a plan could make the negotiations…
Filed under: News - @ June 1, 2025 12:15 am