Pakistan Launches Crypto Council to Regulate Digital Assets
ISLAMABAD – Pakistan has taken a significant step towards embracing the digital economy with the official launch of the Pakistan Crypto Council (PCC). This government-backed initiative aims to regulate and integrate blockchain technology and digital assets into the country’s financial framework, signaling Pakistan’s commitment to the evolving global landscape of digital finance.
Finance Minister Muhammad Aurangzeb will chair the council, highlighting the government’s dedication to this new financial sector. Bilal Bin Saqib, who serves as the Chief Advisor to the Finance Minister, has been appointed as the CEO. His expertise in blockchain technology, investment strategy, and digital innovation will be crucial in spearheading the council’s efforts.
The council boasts a diverse leadership structure, including the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), the Federal Law Secretary, and the Federal IT Secretary. This composition ensures that regulatory oversight, financial stability, legal frameworks, and technological advancements are all considered.
A New Era for Digital Finance in Pakistan
The formation of the PCC signifies the government’s proactive stance in propelling Pakistan to the forefront of the global shift towards blockchain technology and digital assets. The goal is to create a safe and compliant environment for investors, businesses, and innovators in the crypto space.
“The world is moving rapidly toward digital finance, and Pakistan wishes to be a leader in the space,” stated Finance Minister Muhammad Aurangzeb at the launch. “The establishment of the Pakistan Crypto Council is a step towards embracing innovation while ensuring that we create a regulatory framework that protects investors and the financial system. We are committed to fostering a responsible and progressive crypto ecosystem that can contribute to Pakistan’s economic growth.”
CEO Bilal Bin Saqib echoed this sentiment, emphasizing the council’s broader goals. “This council is not just about regulations—it’s about creating an ecosystem where blockchain and digital finance can thrive. Our goal is to ensure that Pakistan becomes a competitive player in the global digital economy while prioritizing security, transparency, and innovation. By bringing together key stakeholders, we aim to strike a balance between progressive policymaking and fostering an environment where entrepreneurs and businesses can confidently explore the potential of blockchain technology.”
The PCC will focus on developing clear regulatory policies, engaging stakeholders from both the public and private sectors, and positioning Pakistan as a key player in the global digital asset landscape.
Next Steps
The council has outlined several key priorities:
- Establishing clear regulatory guidelines to facilitate crypto adoption.
- Engaging with international crypto and blockchain organizations to ensure best practices.
- Encouraging responsible innovation by working closely with key players in the industry, including fintech startups, investors, and blockchain developers.
- Protecting consumers and ensuring financial security through robust legal and compliance frameworks.
The launch of the Pakistan Crypto Council marks a new chapter in Pakistan’s financial and technological evolution, reinforcing the country’s commitment to being open for business and a leader in innovation in the digital finance sector.
