Karachi/Singapore, July 9, 2025 – The State Bank of Pakistan (SBP) announced plans to launch a central bank digital currency (CBDC) pilot and finalized the Virtual Assets Act, 2025, marking a major step toward formalizing crypto regulation.
Key Highlights:
CBDC Pilot: SBP Governor Jameel Ahmad confirmed the bank is building capacity for a digital rupee and aims to roll out a controlled test soon, following models like China’s e-CNY and India’s digital rupee.
Crypto Regulation: The newly approved law establishes an independent regulator to license and oversee virtual asset service providers (VASPs). The SBP clarified that while crypto isn’t illegal, formal licensing is required for institutional participation.
Government Backing: The Pakistan Crypto Council (PCC), launched in March 2025, is driving adoption. Initiatives include:
Exploring Bitcoin mining using surplus energy.
Appointing Binance founder CZ as a strategic advisor.
Plans for a state-run Bitcoin reserve.
Global Partnerships: The PCC has engaged with U.S. crypto firms, including Trump-linked World Liberty Financial, and tech partners for infrastructure support.
Monetary Policy Context:
Inflation dropped from 38% (May 2023) to 3.2% (June 2025), allowing the SBP to cut rates from 22% to 11% over the
past year.
Forex reserves rose to $14.5 billion (from $3 billion in 2023), with limited exposure to dollar volatility.
The $7 billion IMF program (until 2027) remains on track, with reforms in energy pricing and forex markets.
Risks and Opportunities:
Governor Ahmad emphasized balancing innovation with caution: “We must manage risks carefully but not miss opportunities in this emerging field.”
Why It Matters: Pakistan joins a growing list of emerging economies (Nigeria, UAE, India) testing CBDCs while cautiously embracing crypto. The regulatory clarity could attract exchanges and miners, leveraging the country’s cheap energy and young population.
#Pakistan #newcoinlaunch #ScalpingTrading #NewCryptocurrencies #pakistanicrypto
