Pakistan Loses Over $600 Million to Unauthorized Crypto Transactions
Pakistan has lost more than $600 million through unauthorized cryptocurrency transactions, according to the Exchange Companies Association of Pakistan. Residents are converting local currency to dollars via exchange firms, then moving funds into digital assets through unregulated channels. The outflows have reduced dollar inflows to the formal banking system, with sales from exchange companies to banks dropping from approximately $4 billion to $3 billion year-over-year.