Pakistan is taking significant steps towards regulating its cryptocurrency landscape. Finance Minister Muhammad Aurangzeb has appointed Bilal bin Saqib, a renowned Web3 investor, as the chief advisor for the Pakistan Crypto Council. This move aims to legitimize digital currencies and create a secure environment for digital asset trading.¹
Saqib's expertise in blockchain technology and digital finance will be instrumental in developing Pakistan's crypto regulatory framework. His appointment comes at a time when the country is considering recognizing Central Bank Digital Currencies (CBDCs) as legal tender, marking a significant shift in Pakistan's approach to digital assets.²
The Pakistan Crypto Council, comprising government representatives, regulatory authorities, and industry experts, will play a crucial role in shaping the country's crypto policies. Saqib's vision is to empower Pakistan's youth, stimulate economic growth, and establish the country as a key player in the global cryptocurrency arena.
This development reflects Pakistan's growing interest in embracing digital assets and blockchain technology. With a focus on creating a secure and transparent regulatory framework, Pakistan is poised to become a significant player in the global crypto market.³