The International Monetary Fund (IMF) has strongly criticized the Pakistani government's decision to allocate 2,000 megawatts of electricity for Bitcoin mining.
IMF officials expressed serious concerns over the potential impact of crypto mining on electricity prices and resource distribution, especially as the country continues to face an energy crisis and is in the middle of sensitive budget negotiations. The IMF also noted that Pakistan did not consult the Fund prior to announcing the decision.
A special IMF session is expected to be held to discuss the issue, which could further complicate ongoing economic support talks. Meanwhile, Pakistan recently announced its first strategic Bitcoin reserve and established the Pakistan Digital Asset Authority (PDAA) to integrate digital assets into the national economy.
The PDAA is tasked with regulating crypto exchanges, wallets, and DeFi platforms, while the government plans to launch a National Crypto Council by 2025 to establish a clear legal framework and attract foreign investment.
