Pakistan's central bank has opened formal banking access to licensed virtual asset service providers, marking a structural shift in how the country regulates crypto-adjacent financial activity. The State Bank of Pakistan now permits VASPs holding valid licenses to establish and operate bank accounts within the regulated financial system, ending their effective exclusion from formal banking channels. This move aligns banking access with licensing status, creating a two-tier landscape where licensed operators gain legitimacy while unlicensed entities remain locked out. The practical effect is that compliant crypto and digital asset businesses can now move funds through regulated accounts, reducing reliance on informal channels and improving auditability for regulators. For the sector, this lowers operational friction and signals that Pakistan is positioning its VASP framework as a credible on-ramp to broader financial integration. Investors and operators should watch whether commercial banks actively onboard VASPs or apply de-risking policies that limit uptake despite the central bank's formal clearance.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
