Pakistan’s crypto scene has been a bit of a rollercoaster. For years, the State Bank and the Securities Commission outright banned digital coins—no trading, no exchanges, nada. Still, a vibrant underground market bloomed, with Pakistanis using crypto for remittances and as an inflation hedge.

Fast forward to early 2025, and things are changing fast. The government set up a Digital Asset Authority to actually regulate token trading, tokenize national assets, and even boost Bitcoin mining using excess electricity. Around the same time, Bloomberg reported plans to draft a legal framework aimed at attracting foreign investment into the country’s digital asset market.

Behind the scenes, the Pakistan Crypto Council—backed by the finance ministry and advised by Binance’s CZ—has been hammering out rules to protect consumers while fostering innovation. They’re especially focused on empowering Pakistan’s youth, who make up over 60% of the population and are hungry for tech-driven opportunities.

In short, Pakistan is shifting from “crypto banned” to “crypto managed,” hoping to legitimize what was already a booming underground market and position itself as a regional blockchain hub. If they get this right, we could see a new wave of innovation—and maybe even some serious mining action—coming out of the Indus Valley. $BTC