📰 2. Pakistan Launches Pilot for Digital Currency – A Step Toward a Modern Financial System Introduction: In a groundbreaking move, the State Bank of Pakistan (SBP) has announced a pilot project for the launch of a Central Bank Digital Currency (CBDC) under the newly passed Virtual Assets Act 2025 . This initiative positions Pakistan alongside global leaders like China, India, and the EU in the digital financial space. What is CBDC? CBDC is a digital version of a country’s fiat currency , issued and regulated by the central bank. Unlike cryptocurrencies like Bitcoin, CBDC is state-controlled, legal tender and offers more secure, traceable, and efficient transactions. Key Features of the Launch: Formation of the Pakistan Virtual Assets Regulatory Authority (PVARA) to oversee crypto and digital assets. Initial testing of digital currency in interbank settlements, retail payments , and international remittances . Focus on financial inclusion , tax documentation, a...