The International Monetary Fund expresses concern about Pakistan's bitcoin mining plans
Internet reports that in the context of energy shortages and budget negotiations, the International Monetary Fund questioned Pakistan's plan to allocate 2,000 megawatts of electricity for Bitcoin mining. The plan was announced last week to attract autonomous miners, blockchain companies and artificial intelligence companies to Pakistan. Currently, the International Monetary Fund has asked the Ministry of Finance of Pakistan to urgently clarify the legality of cryptocurrency mining and power distribution issues. Especially as the country faces chronic energy shortages and fiscal pressures. It is reported that the Pakistan government did not seek the advice of the International Monetary Fund before announcing this decision. In addition, the International Monetary Fund also expressed concern about the potential impact of cryptocurrencies on Pakistan's electricity prices and resource allocation. It is expected that the two parties will arrange a separate meeting in the future to discuss the Bitcoin power plan.
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