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Pakistan Plans for ‘National Crypto Council’ on the anvil

• Announcement comes after finance minister meets delegates from US, described as ‘Trump advisers for digital assets’
• Body will oversee policy development, address regulatory challenges to a crypto-conducive ecosystem

ISLAMABAD: With the Trump administration in the US showing a soft corner for digital assets, authorities in Pakistan appear to be moving quickly to legalise cryptocurrencies — hitherto a no-go area — in the country.

On Tuesday, the finance ministry announced it was considering “establishing a National Crypto Council” to adopt emerging digital currencies, in line with global trends.

An official statement said Finance Minister Muhammad Aurangzeb had a meeting on digital assets with a foreign delegation, “including President Trump’s advisers for digital assets”.

Although the readout did not officially identify the delegates, an official who attended the meeting told Dawn they included Gentry Beach Jr, Nikita Goldsmith, Alex Malkov, and Jerad Finck.

The visit comes after Gentry Beach — a business associate of President Trump’s and the father of one of the delegates who met Mr Aurangzeb on Tuesday — during his last month visit to Islamabad had assured PM Shehbaz Sharif in a meeting about over $1bn investments in Pakistan.

Mr Malkov is described as a consultant for leading blockchain and fintech firms, Mr Finck is the CEO of Cosmic Wire, a company that provides blockchain solutions, while Mr Goldsmith is said to be a tech entrepreneur. It should be noted that the delegation’s visit was not announced by the US Embassy, which usually issues readouts for meetings organised between US and Pakistani officials.
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#pakistanicrypto hi every Pakistani should read and convey my message. I am going to transfer my crypto to other exchanges cuz in future Pakistani government have an agreement with binance about the crypto tax . which will be high may be upto 25 % tax . so be careful and its ur chooce whether u transfer ur crypto or not . dyor#pakistancurrency #pakistanofficers

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congratulations Pakistan

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In a shocking turn of events, a cryptocurrency trader named Arsalan was abducted by five individuals posing as police officers in Karachi, Pakistan, on December 25. The perpetrators, arriving in an unmarked police vehicle, coerced Arsalan into transferring $340,000 from his cryptocurrency wallet to their accounts. Additionally, they confiscated Rs8,000 in cash before releasing the trader.

Following an intensive investigation, law enforcement apprehended seven individuals, including a police officer, linked to the abduction. Those detained were identified as Haris Ashar, Muhammad Rizwan Shah, Tariq Hassan Shah, Muzammil Raza, Umar Jilani, Umar, and Noman Rifat. Crucial evidence, including a recovered police vehicle and route tracking data, implicated members of the police force in the crime. The Anti-Violent Crime Cell (AVCC) has been tasked with further probing the involvement of law enforcement personnel in this high-profile case.

This alarming incident has spotlighted the vulnerabilities faced by cryptocurrency traders in Pakistan. It underscores the urgent need for enhanced security protocols and increased vigilance among traders operating in the digital finance sector. Furthermore, it highlights the necessity for stricter measures within law enforcement agencies to prevent such abuses of power and ensure the safety of citizens engaging in cryptocurrency transactions.
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Congratulations to all crypto investors
Officially, Pakistan's crypto legality has been established. This means that cryptocurrency businesses now have legal status. You can now legally acquire and trade cryptocurrency in Pakistan with legal permission.
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Pakistan all set to launch online forex trading platform

Islamabad: Pakistan has announced the plan to launch an online trading platform for forex trading by the end of January 2024, ARY News reported. 

As per details, the plan of online FX trading platform has been presented to the International Monetary Fund (IMF).

After the launch of this initiative, the trading of foreign currency in the interbank will be carried out online.

The launch of an online forex trading platform is part of Pakistan’s commitment to bring reforms in the foreign exchange market, as assured to the IMF.

The plan of such key measures regarding online FX trading was present in the IMF’s country report where Pakistan pledged to strengthen the transparency and efficiency in the forex market.
As per the launching plan the exchange rates in the interbank and open market will be published daily after December 2023.

Furthermore, the new trading platform will be connected to all banks, will to go live by the end of January 2024.

It is pertinent to mention here that the foreign exchange reserves held by the State Bank of Pakistan (SBP) continued their declining spree, plunging by $1.2bn to reach $4.5 billion, citing sources. Pakistan paid back $600mn to the Emirates NBD Bank and $415mn to the DIB on Friday, they say.
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Pakistan has shown significant interest in Crypto Currency lately. Some key points:
⭐Pakistan ranks 3rd globally in Crypto Adoption.
⭐The State Bank of Pakistan (SBP) plans to launch a central bank digital currency (CBDC) by 2025.
⭐Pakistan Telecommunication Authority (PTA) blocked crypto exchanges in 2018 but lifted the ban in 2020.
⭐Crypto mining is legal, and Pakistan has established Crypto mining farms.
⭐Some Pakistani banks have started offering Crypto Services.

#pakistanofficers #pakistanicrypto #PakistanCBDC #pakistancurrency #Write2Earn

The Pakistan Crypto Council was officially established on March 14, 2025, to promote cryptocurrency and blockchain technology in the country. Federal Finance Minister Muhammad Aurangzeb has been appointed as the head of the council, while Bilal Bin Saqib will serve as the Chief Executive Officer (CEO). The board includes the Governor of the State Bank, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and other high-ranking officials. (Source)

Finance Minister Muhammad Aurangzeb stated that the government is actively working to develop the crypto ecosystem and aims to position Pakistan as a leader in digital finance. He further emphasized that a strong legal framework is being developed to ensure financial security and consumer protection, opening a new chapter in the country's financial and technological growth. (Source)

Bilal Bin Saqib, a Forbes 30 Under 30 honoree and a well-known figure in the blockchain industry, stated that the Pakistan Crypto Council will focus on creating a balance between growth and security. The council's primary goal is to formulate clear regulatory policies for cryptocurrency and blockchain. (Source)

The Pakistan Crypto Council aims to position Pakistan in the global digital economy by establishing a strong regulatory framework for blockchain and cryptocurrency. This initiative is expected to increase investment opportunities and boost the country's capital markets. (Source)

With this step, Pakistan hopes to foster innovation in the cryptocurrency sector and positively impact the national economy. The government aims to embrace emerging technologies while ensuring a safe and transparent financial system, contributing to the country's economic growth. (Source)

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