In the ongoing discussions concerning a $3 billion standby agreement between Pakistan and the IMF, today marks the anticipated conclusion of negotiations, with a notable focus on cryptocurrency matters.

As reported by local news outlet The News, the IMF has stipulated that Pakistan must enforce a capital gains tax on investments in cryptocurrencies, including this requirement as part of the conditions for the $3 billion financial assistance package.

Despite its historical skepticism towards cryptocurrencies, the IMF has urged Pakistan's Federal Board of Revenue (FBR) to introduce a capital gains tax on cryptocurrency investments as a prerequisite for accessing a $3 billion economic recovery fund.

The primary objective of the $3 billion aid package from the IMF is to stabilize Pakistan's struggling economy, plagued by hyperinflation, and avert potential defaults on its financial obligations.

Successful negotiations and Pakistan's acceptance of the IMF's terms would result in the disbursement of the remaining $1.1 billion from the rescue package.

The implementation of taxes on cryptocurrency profits in Pakistan signifies a significant step towards acknowledging the legitimacy of cryptocurrencies. However, Pakistani Finance Minister Aisha Ghaus Pasha has affirmed that the country has no intentions of granting legal recognition to cryptocurrency trading.