š° Key News Highlights
1. Strategic Adviser Appointment
Changpeng Zhao (CZ), the founder of Binance, has been appointed as a Strategic Adviser to the Pakistan Crypto Council (PCC)āan initiative formally launched in March 2025 under the Finance Ministryās leadership .
CZās appointment was hailed by Finance Minister Muhammad Aurangzeb as a ālandmark momentā for positioning Pakistan as a Web3 regional hub . During his Lahore visit on April 7ā8, CZ also met with key leaders, including PM Shehbaz Sharif and Deputy PM Ishaq Dar .
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2. Regulatory Framework Advancements
The State Bank of Pakistan and other authorities have signaled the completion of legislation to formally regulate virtual assets. The proposed Virtual Assets Act, 2025 would establish licensing and oversight structures for the crypto sector .
Pakistan is also preparing to launch a pilot Central Bank Digital Currency (CBDC) as part of the modernization of its financial system .
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3. Formation of PVARA
On July 8, 2025, the government officially notified the creation of the Pakistan Virtual Assets Regulatory Authority (PVARA) via ordinance. The agency is empowered to license and regulate virtual asset service providers (VASPs) and enforce compliance with anti-money laundering and international standards .
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4. Economic Strategy: Mining & Reserves
Pakistan is exploring the use of surplus electricity for Bitcoin mining and AI data centre infrastructure. The PCC, under head Bilal Bin Saqib, has begun talks with crypto firms to locate operations in energy-rich regions. CZ plays an advisory role in these initiatives .
Additionally, the PCC launched Pakistanās first government-led Strategic Bitcoin Reserve, a non-trading sovereign digital asset holding, unveiled in May 2025 at Bitcoin 2025 in Las Vegas .
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5. Physical Security Concerns
There has been a rise in physical robberies and kidnappings targeting crypto investors, including traders in Karachi. Over 230 such incidents have been reported globally in the past 18 months, with Pakistan among the hotspots. Victims include freelance crypto investors and influencers. Some are hiring private security or using anonymity-enhancing techniques to protect their holdings .
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š At a Glance
Topic Details
PCC Adviser CZ appointed to guide regulation & infrastructure
Crypto Council Established March 14, 2025
Virtual Assets Law Drafted Virtual Assets Act/Ordinance 2025
Regulatory Agency PVARA formed July 8, 2025
Electricity Use Allocating surplus power for crypto & AI projects
Bitcoin Reserve Govt-led strategic reserve launched May 2025
Security Risks Surge in kidnappings and robberies of crypto users
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ā Why It Matters
These developments collectively show Pakistanās shift from a cryptoāgrey zone to actively establishing regulatory structures, national blockchain infrastructure, and financial innovation initiatives. CZās involvement brings global visibility and expertise.#zahu