Pakistan Crypto Council to Discuss Regulatory Future of Digital Assets
The Pakistan Crypto Council (PCC) is set to convene on June 2 to deliberate on digital currency regulations, as announced by the Ministry of Finance. Established in March, the PCC aims to integrate blockchain technology and digital assets into the country’s financial system. Chaired by Finance Minister Muhammad Aurangzeb, the meeting will serve as a strategic forum to evaluate the evolving legal and regulatory landscape of cryptocurrencies in Pakistan. Key agenda items include the formulation of a comprehensive regulatory framework aligned with global standards, and the potential creation of the Pakistan Virtual Assets Regulatory Authority (PVARA)—a proposed independent body to oversee the digital finance sector. PCC CEO Bilal Bin Saqib and other members will attend, with discussions emphasizing investor protection, financial inclusion, and innovation within a secure and transparent environment. This follows the recent introduction of a digital currency regulation bill by MNA Sharmila Farooqi, and Finance Secretary Imdadullah Bosal reaffirming the countrywide ban on cryptocurrency while advocating for regulation. Notably, Saqib also announced Pakistan’s first government-led Strategic Bitcoin Reserve and a national bitcoin wallet, aimed at holding digital assets under state custody as a sovereign reserve. While cryptocurrencies continue to gain global traction, regulatory responses remain varied; they are legal tender in some nations like El Salvador but remain restricted in others, including Pakistan, India, and China.
