🇵🇰 Pakistan’s Crypto Shake‑Up: Key Developments
1.Towards Legalization
In early 2025, the federal government set a deadline—by April 2025—to draft legislation regulating cryptocurrency trading and mining. The Peshawar High Court directed Parliament to act within two months .
The Pakistan Crypto Council (PCC) was officially formed in March 2025, led by Finance Minister Muhammad Aurangzeb (Chair) and Bilal Bin Saqib (CEO), with notable adviser Changpeng Zhao, former CEO of Binance .
This marks a sharp policy shift from the 2023 stance where the Central Bank had banned crypto, stating “a lot of misuse” globally .
2.Strategic Bitcoin Reserve
At the Bitcoin 2025 conference (May 28, 2025) in Las Vegas, Bilal Bin Saqib announced Pakistan is creating a Strategic Bitcoin Reserve—a sovereign national wallet intended for long-term holding, not active trading .
The government has no plans to sell the reserve Bitcoin, signaling a bold national stance toward digital assets .
3.Mining & Energy Strategy
In late May 2025, Pakistan’s Finance Ministry allocated 2,000 MW of surplus electricity to power Bitcoin mining and AI data centres, backed by the PCC .
The initiative aims to monetize excess power, create high‑tech jobs, and attract FDI—but critics caution about energy subsidies, grid strain, and legal ambiguity .
4.Role of Khyber Pakhtunkhwa (KP)
Since 2020, KP province has championed crypto mining. It passed a resolution to legalize mining and even funded Bitcoin farms powered by hydroelectricity—making it Pakistan’s frontrunner in government-backed crypto mining .
However, recent KP legislation (April 2025) seeks broader control over all minerals and hasn’t explicitly included crypto, reflecting ongoing provincial-federal dynamics .
5.Public and Regulatory Tensions
Despite strategic moves, the State Bank of Pakistan (SBP) and Finance Ministry have repeatedly emphasized that crypto remains illegal under current rules. Actions by traders may prompt investigations by FIA/FMU .
A formal legal framework is still pending—federal officials stress that “crypto will become legal only when Parliament enacts it”