#CryptoRegulation

🇵🇰 Pakistan’s Evolving Crypto Regulatory Framework

📘 Establishment of the Pakistan Crypto Council (PCC)

In March 2025, the Pakistani government launched the Pakistan Crypto Council (PCC) to oversee and promote blockchain technology and digital assets within the country. Chaired by Finance Minister Muhammad Aurangzeb, with Bilal Bin Saqib as CEO, the PCC includes key figures like the State Bank Governor and the Securities and Exchange Commission Chairman. 

🏛️ Virtual Assets Bill 2025

The proposed Virtual Assets Bill 2025 aims to: 

• Establish “Virtual Asset Zones” to foster industry innovation.

• Create a National Virtual Assets Regulatory Commission to oversee registration, licensing, and compliance.

• Implement strict anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.

• Introduce tax incentives to attract investment in blockchain projects.  

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🏦 Binance’s Role in Pakistan

Binance, the world’s largest cryptocurrency exchange, is actively engaging with Pakistan’s regulatory landscape: 

• Changpeng Zhao, Binance’s founder, has been appointed as a strategic adviser to the PCC, assisting in developing blockchain infrastructure and regulatory frameworks.

• Under CEO Richard Teng, Binance is advising multiple governments, including Pakistan, on forming digital asset regulations and establishing national bitcoin reserves.  

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⚖️ Legal Status of Binance in Pakistan

While Binance is accessible in Pakistan, its legal status remains nuanced: 

• The State Bank of Pakistan (SBP) issued a circular in 2018 prohibiting banks from facilitating cryptocurrency transactions, placing platforms like Binance in a regulatory grey area.

• Despite this, Binance remains popular among Pakistani users, with many accessing it through peer-to-peer (P2P) trading and local payment methods like JazzCash and Easypaisa.