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The currency expert cautioned that launching a cryptocurrency may take time, “as there are a lot of risks associated with the digital currency, which needs to be managed”. Pakistan currently has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees, said the Finance Division. Earlier, Finance Minister Muhammad Aurangzeb urged authorities, including the State Bank of Pakistan (SBP) to approach the potential introduction of cryptocurrency with an “open mind” amid significant developments in digital banking in Pakistan. “The reality is that crypto is already in vogue here in the informal market and the numbers are what they are, even if they are one-fourth of what the numbers are being moved around, we need to think through and be ahead of the cycle in terms of the regulatory regime and think on how to move forward with AI and digital assets (in Pakistan),” Aurangzeb, who is also a former senior banker, said while addressing at the ‘Pakistan Banking Summit 2025’ in Karachi.
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