The Pakistan Crypto Council (PCC) is scheduled to hold a crucial meeting on June 2 to discuss the evolving regulatory and legal framework surrounding digital currency and the broader crypto landscape in Pakistan. The meeting, chaired by Finance Minister Senator Muhammad Aurangzeb, will focus on developing a robust regulatory framework to govern digital and virtual assets in the country, aligned with global standards and technological advancements.
A key agenda item will be the groundwork for establishing the Pakistan Virtual Assets Regulatory Authority (PVARA), a proposed autonomous body to oversee the digital finance and crypto ecosystem. The PCC aims to create a secure, transparent, and innovation-friendly regulatory environment to promote responsible adoption of blockchain technology, protect investors, and enhance financial inclusion.
The meeting underscores the government’s commitment to shaping a future-ready financial infrastructure while ensuring stability and compliance in the emerging digital economy. The PCC was formed in March to regulate and integrate blockchain technology and digital assets into Pakistan’s financial landscape.
This development comes after the federal government informed the National Assembly’s Standing Committee on Finance that cryptocurrencies remain illegal and banned in Pakistan. However, the PCC CEO recently unveiled the country’s first government-led Strategic Bitcoin Reserve, marking a significant shift in the nation’s digital and financial outlook.
Pakistan, with 20 million active cryptocurrency users and over $20 billion in crypto transactions, ranks among the top 10 in terms of crypto adoption globally. The country is poised to benefit from crypto adoption, particularly with $35 billion in annual remittances.
