The Government of Khyber Pakhtunkhwa has withdrawn its notification for the establishment of an Advisory Committee on Digital Assets, dated 9th February, 2021, owing to lack of progress, mandate and authority.

While the committee had successfully held its inaugural meeting to review crypto trends and awareness in the region, “the Advisor to CM on ST&IT resigned and the business of the committee was stalled”, explored the notification.

 

The notification further explains that the matter of all digital assets and related affairs will be “submitted for consideration of the Provincial Cabinet as per the Rules of business of the Provincial Government”.

As far as the legal and policy landscape surrounding cryptocurrencies in the region is concerned, all digital currencies fall under the domain of the federal government, and from here on out, any decision regarding cryptocurrencies and crypto-mining will be taken as per the directions of the Directorate General of Science and Technology (DoST).

For reference, here’s the official notification:

KP Govt Dissolves Advisory Committee On Digital Assets and Cryptocurrencies