Federal Government Officially Establishes Crypto Council#pakistanicrypto
Council headed by Finance Minister to make recommendations to set clear regulatory guidelines for crypto
The council will play a key role in effective policymaking, promoting modernization, and establishing a secure financial system for crypto adoption, the statement said.
Islamabad: The federal government has formally established the Crypto Council under the chairmanship of Finance Minister Muhammad Aurangzeb, which will play a key role in effective policymaking, promoting modernization, and establishing a secure financial system.
According to a statement issued by the Ministry of Finance, Finance Minister Muhammad Aurangzeb will serve as the head of the Pakistan Crypto Council. Bilal bin Saqib, Chief Advisor to the Finance Minister for the Pakistan Crypto Council, has been appointed as the CEO of this council.
The announcement said that Bilal Saqib will lead the initiative through his expertise in blockchain technology, investment strategy, and digital innovation.
The Ministry of Finance said that the board members of the Pakistan Crypto Council include the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan, the Federal Secretary Law and the Federal Secretary. Regarding the council, it was said that the council will make recommendations to formulate clear regulatory guidelines for crypto adoption. The council will establish links with global crypto and blockchain organizations and provide suggestions for adopting best global practices.
The Ministry of Finance said that the Council will work with fintech, startups, investors and blockchain developers to make recommendations to promote responsible innovation. Similarly, the Council will develop a strong legal and enforcement framework for consumer protection and financial security.
The Ministry of Finance stated that the establishment of the Pakistan Crypto Council will open a new chapter in financial and technological development in the country and that the council is a significant step towards the promotion and regulation of blockchain technology and digital assets in the country.
The statement said that this council will play a key role in effective policymaking, promoting modernization, and establishing a secure financial system for crypto adoption.
