
Pakistan plans to legalise crypto in bid for foreign investment: Bloomberg
Country is done sitting on the sidelines and aims to devise a clear regulatory framework for governing digital-assets to lure international investment, says CEO of Pakistan Crypto Council Bilal bin Saqib
Pakistan plans to create a legal framework for cryptocurrency trading in a bid to lure international investment, said Bilal bin Saqib, chief executive officer at the newly established Pakistan Crypto Council, in an interview with Bloomberg TV.
Pakistan is working on a legal framework to legalise cryptocurrency trading to attract international investment, according to Bilal bin Saqib, CEO of the newly established Pakistan Crypto Council. In an interview with Bloomberg TV, he said the country aims to develop clear regulations governing digital assets to support the local crypto ecosystem.
“Pakistan is done sitting on the sidelines. We want regulatory clarity and a legal framework that is pro-business,” Bilal said. “The country has the potential to be a leader in blockchain-powered finance, and we want to attract international investment because Pakistan is a low-cost, high-growth market with 60% of the population under 30.”
He noted that Pakistan is already among the world’s top adopters of cryptocurrency, with an estimated 15 to 20 million Pakistanis holding digital assets.
“The country possesses billions of US dollars in crypto transactions, so of course we want to make this legal. We want to have a clear regulatory framework so we can bring in investments and we can let the ecosystem flourish in Pakistan,” he said.
Bilal, recognized by Forbes as a Web3 investor and blockchain strategist, highlighted that Pakistan offers one of the lowest operating costs for crypto businesses, making it a more cost-effective alternative to hubs like Dubai and Singapore.