With the too-good-to-be-true rise of Bitcoin from an anarchist’s obsession to a $1 trillion asset class on Wall Street, the age of digital currency cannot be pushed between the cracks. Not anymore. The latest in the series of making it big in the new incarnation of money is US-based Framework Ventures. Claiming to have raised $100 million for its second fund, the treasure house is helping the land of the free catch up with the Chinese revolution. Considering Paypal’s 392 million users, the invisible money is growing by leaps and bounds to disrupt the conventional world of finance. Since Coinbase has already made headway as the first crypto exchange on the Nasdaq and an array of brands is fast adapting to digital payments, the only worthwhile question should be: What next? We’ve long bypassed the intersection where critics used to hedge bets on its imminent demise. Some drew parallels with the dot-com bubble; waiting for the mirage to crash with bated breath. The 2018 sell-off of most cryptocurrencies (most notable of which was bitcoin downing over 70 per cent) did not help restore its credibility. But as is the case with most currency trades, the fact that the highly volatile tender fires on all cylinders during boom cycles adds tremendously to its appeal. Even last month, the cryptocurrency took a tumble overnight after a fallout with Tesla. There would be many more cases of stratospheric rise followed by similar flash crashes. It is entirely up to one’s street wisdom (some may say, a streak of good fortune) to hit the crypto-jackpot. Ergo, the widely-speculated wild swings in price are, plainly put, part and parcel of the current craze. As more and more enthusiasts pin hopes on the future of digital gold in Asian economies, an increasingly worrisome aspect is its popularity on the darknet. Bitcoin has had more than its fair share of criminal ties ever since the early days. While governments all over the world are rolling their sleeves to strike a balance between safety and innovation, the writing on the wall is clear: cryptocurrencies cannot be subjected to the same regulations as conventional currencies. Thus, potentially criminal transactions can make use of Gold 2.0 to bypass financial reviews. One of the more critical issues is its potential utility in helping raise funds for the IS terrorist operations. A 2015 news story by Deutsche Welle reported that an alleged IS wallet had received around $ 23 million within a single month. Before paving the way to catch up with the digital race, vulnerable countries like Pakistan should consider the pitfalls of unregulated transactions. There are shining examples from Cambodia, Singapore and Thailand where governments still run sovereign whilst allowing for adjustable supplies. Sitting aloof to the new phenomenon is no viable solution. Because Pakistan already has an excess of energy than its demand, it can easily use this supply for bitcoin mining. The much-touted benefits include being able to pay off our external debt within two years. Now, if that shining potential doesn’t rattle Islamabad, what will? *