PESHAWAR – The Peshawar High Court has dismissed a petition filed against illegal trading of cryptocurrency and digital forex, stating in its judgment that cryptocurrency has no legal status in Pakistan.
According to reports, Justice Kamran Hayat Miankhel of the Peshawar High Court issued a written judgment after hearing the petition against illegal crypto and digital forex trading.
The judgment stated that the government has introduced the Virtual Assets Ordinance 2025, under which a legal framework for licensing and regulation has been established, and matters have now been regulated. Therefore, the petition has become ineffective.
The court said that since the petition is now ineffective, it is dismissed. Justice Kamran Hayat wrote in the judgment that it cannot be denied that cryptocurrency has no legal status in Pakistan. Through State Bank circulars and notices, financial institutions and the public have only been cautioned to exercise care in such transactions.
The court further stated that State Bank’s directives do not declare cryptocurrency trading a crime, nor do they prescribe any punishment for it. Regulation of crypto and digital forex trading is a matter of policy and legislation, which does not fall under judicial authority.
The judgment added that the powers of legislation and enforcement rest with the administration and legislature. The court noted that while concerns exist regarding money laundering and terror financing risks, the government has already introduced a regulatory framework under the Virtual Assets Ordinance 2025.
The written judgment concluded that with the introduction of the 2025 policy for crypto and digital forex, the petition has become ineffective at this stage.
