#pakistancryptocouncil

According to recent reports, the Government of Pakistan has not officially issued a notification legalizing cryptocurrency. However, there has been a significant development with the establishment of the "Pakistan Crypto Council," aimed at fostering blockchain technology and digital assets within the country.

Key details:

The council will be led by Finance Minister Senator Muhammad Aurangzeb.

Bilal Bin Saqib has been appointed as the Chief Executive Officer.

Other members include the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan, the Federal Secretary of Law, and the Federal Secretary of Information Technology.

The council's objectives are:

Establishing clear regulatory guidelines for crypto adoption.

Engaging with international crypto and blockchain organizations.

Encouraging responsible innovation in collaboration with fintech startups, investors, and blockchain developers.

Protecting consumers and ensuring financial security through robust legal frameworks.

While this marks a positive step toward the legalization of cryptocurrency, further policy-making and regulations are required for full legalization.