The International Monetary Fund (IMF) is regularly positioned along the way to the adoption of cryptocurrencies. A reality that has just touched Pakistan, faced with its national ambitions for Bitcoin. We explain everything to you.
Pakistan vs IMF: an energy disagreement
Difficult to ignore the capacity of the International Monetary Fund (IMF) to intervene in government procedures that involve cryptocurrencies. Especially when this concerns countries likely to Receive your financial aid.
The example of Salvador speaks of itself. Indeed, this small country in Central America was forced to Review your Bitcoin copy downwards to claim a loan of $ 1.4 billion. A balance of power of which One of the main friction points always concerns its BTC purchases.
✍️ We explain everything to you on the mining (mining) of bitcoin and cryptocurrencies
In the same type of register, Pakistan has recently decided to integrate bitcoin into its national economic model. A multifaceted strategy, which involves constituting a strategic reserve boosted at DEFI yields, but also a mining industry capable of enhancing its excess energy production.
Visibly enthusiasm Little appreciated by the members of the IMF. Indeed, the recent revelations of the local profit media report a disagreement on the strategy applied to this adoption.
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Bitcoin: Excess energy = tax exemption?
The revelation of this situation was made official as part of a session of the Permanent Senate Committee in Pakistan. A meeting during which Senator Mohin Aziz and the Energy Secretary Fakhray Alam Irfan exposed Current discussions with the IMF on the visibly delicate question of Bitcoin mining.
The main reason for this discord concerns A 6 -month price grant Given ” to industries with high energy intensity, such as cryptocurrency mining and metallurgical industries »On their energy bills. A proposal filed by the energy division in September 2024, which Immediately was revised down by the IMFto spread over 3 months only.
🗞️ Pakistan plans to use the DEFI to generate performance on its Bitcoins Strategic Reserve
Following this rejection, the Pakistani energy division proposed – in November 2024 – a subsidy only targeted on excess energy consumption. A judicious decision to develop electricity production generally considered to be lost. But The IMF refused againconsidering this option as ” a sectoral tax exemption often the source of imbalances in the economy ».
According to the declarations of the Fakhray Alam Irfan Energy Secretary, This end of inadmissibility does not represent a categorical rejection on the part of the IMF. Indeed, it seems that the talks remain open with the international body in order to refine this plan. It just remains to be hoped that the final version should not completely exclude bitcoin to finally become acceptable.
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Source: Profit
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Passionate about cryptocurrencies and the principle of decentralization for many years, I want to share this experience with the greatest number. I also focus on deciphering the issues associated with the evolution of this ecosystem within traditional finance.
