In March 2025, Pakistan made a significant move by forming the Pakistan Crypto Council (PCC). This new body is led by Finance Minister Muhammad Aurangzeb as the chair and Bilal Bin Saqib as the CEO. Their main goal is to help Pakistan enter the blockchain and digital asset space while maintaining a careful balance between innovation and regulation.
The PCC quickly got to work. They created a technical committee that includes important members from the State Bank, the Securities and Exchange Commission (SECP), and the Ministry of IT. This group is responsible for developing clear and effective regulations for digital assets in the country.
Beyond regulation, the government has set ambitious plans. They announced the launch of a national Bitcoin Strategic Reserve. Additionally, the government allocated 2,000 megawatts of surplus electricity to support Bitcoin mining and AI data centers. This move aims to use extra energy resources for new technology industries.
A new regulatory body was also established, called the Pakistan Virtual Assets Regulatory Authority (PVARA). This authority will oversee all activities related to virtual assets and help maintain transparency and compliance in the sector. In a surprising development, Binance co-founder Changpeng Zhao (CZ) has joined as a strategic advisor to the council, bringing international expertise to the table.
It is important to note that cryptocurrencies are not recognized as legal tender in Pakistan yet. However, these efforts show that Pakistan is trying to advance in the digital asset sector while being mindful of risks and regulations. If these plans are managed well, Pakistan could become a leading hub for blockchain and digital innovation in the region.
The PCC’s work is not limited to policy-making. It represents a major step forward for Pakistan as the country aims to embrace digital transformation and become more competitive in the global technology landscape.
