Pakistan Pushes for Bitcoin Legalization to Boost Economic Growth
In a bid to attract foreign investment and stimulate economic growth, Pakistan is working to establish a clear legal framework for Bitcoin trading. The country is moving forward with formalizing digital asset operations, signaling a shift from its previous cautious approach.
Bilal bin Saqib, CEO of the Pakistan Crypto Council and the newly appointed adviser to the finance minister for digital assets, recently told Bloomberg that this initiative is a crucial first step in unlocking Pakistan’s untapped potential.
“Pakistan is done sitting on the sidelines,” Saqib said. “With 60% of the population under 30, and Pakistan being a low-cost, high-growth market, we aim to attract foreign investment. Our native Web3 workforce is eager to create."
High Crypto Engagement Fuels Legalization Push in Pakistan
Cryptocurrency trading is already gaining significant traction in Pakistan, with the country ranking ninth globally for crypto adoption. An estimated 15 to 20 million people are actively trading, despite warnings from the central bank about the risks of digital assets.
Much of this momentum is driven by a young, tech-savvy generation eager to explore new economic opportunities. This enthusiasm is a key driver behind Pakistan’s efforts to legalize cryptocurrencies.
“The US became more pro-crypto under President Trump, which resonated with markets worldwide. Trump made crypto a national priority, and now every country, including Pakistan, will have to follow suit,” Saqib said.
This global shift has motivated Pakistan to align with international financial standards and seize the opportunity to lead in the digital economy.
Last month, Pakistan took a significant step by establishing the National Crypto Council, tasked with overseeing the digital asset sector. The council will act as a regulatory body, ensuring the emerging crypto market operates within a framework that protects investors while encouraging innovation.
#Pakistan #CryptoRegulation #DigitalAssets
#ETH
#xrp
