Pakistan Launches Crypto Council to Shape Digital Finance
ISLAMABAD – The Pakistan Crypto Council (PCC) has been officially launched, marking a significant stride in the country’s efforts to regulate and integrate blockchain technology and digital assets into its financial framework, according to a recent statement from the Ministry of Finance.
The council is designed to play a crucial role in crafting policies, fostering innovation, and ensuring a secure and forward-thinking approach to the adoption of cryptocurrency within Pakistan.
Leadership and Structure
Finance Minister Muhammad Aurangzeb will serve as the Chair of the Pakistan Crypto Council. Bilal Bin Saqib, the Chief Advisor to the Finance Minister on the Pakistan Crypto Council, has been appointed as the CEO, bringing extensive experience in blockchain technology, investment strategy, and digital innovation to lead the initiative.
The immediate board members of the Pakistan Crypto Council include:
- Governor of the State Bank of Pakistan
- Chairman of the Securities and Exchange Commission of Pakistan (SECP)
- Federal Law Secretary
- Federal IT Secretary
This diverse leadership structure is intended to ensure regulatory oversight, financial stability, legal frameworks, and technological advancements are strategically integrated to support Pakistan’s crypto ecosystem.
Government’s Proactive Stance
The formation of the Pakistan Crypto Council signifies a proactive stance by the government to position Pakistan at the forefront of the global shift towards blockchain technology and digital assets. With regulatory clarity and a structured approach, Pakistan aims to cultivate a safe and compliant environment for investors, businesses, and innovators in the crypto space.
Key Statements
Speaking on the launch, Finance Minister Muhammad Aurangzeb emphasized Pakistan’s aspirations to be a leader in the rapidly evolving world of digital finance.
“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,” he stated.
Bilal Bin Saqib, CEO of the Pakistan Crypto Council, highlighted that the council’s mission extends beyond mere regulation, focusing on the creation of an ecosystem where blockchain technology 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,” said Saqib.
Council Objectives
The Pakistan Crypto Council will focus on several key areas:
- Developing clear regulatory policies.
- Engaging stakeholders from both the public and private sectors.
- Positioning Pakistan as a key player in the global digital asset landscape.
Immediate Priorities
According to the Ministry of Finance’s press release, the council’s immediate priorities include:
- Establishing clear regulatory guidelines to facilitate crypto adoption.
- Engaging with international crypto and blockchain organizations to ensure the implementation of best practices.
- Encouraging responsible innovation through collaboration with key industry players, including fintech startups, investors, and blockchain developers.
- Protecting consumers and ensuring financial security by implementing robust legal and compliance frameworks.
The launch of the Pakistan Crypto Council marks a new chapter in Pakistan’s financial and technological evolution, signaling the country’s commitment to innovation and its openness to business in the digital finance sector.
