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Pakistan Crypto Council proposes using excess energy for BTC mining
Pakistan seeks to embrace cryptocurrencies as the world pivots toward digital assets following a policy overhaul in the United States.
Bilal Bin Saqib, the CEO of Pakistan's Crypto Council, has proposed using the country's runoff energy to fuel Bitcoin BTC$85,805 mining at the Crypto Council's inaugural meeting on March 21.
According to an article from The Nation, the council is exploring comprehensive regulatory frameworks for cryptocurrencies to attract foreign direct investment and establish Pakistan as a crypto hub.
The meeting included lawmakers, the Bank of Pakistan's governor, the chairman of Pakistan's Securities and Exchange Commission (SECP), and the federal information technology secretary. Senator Muhammad Aurangzeb had this to say about the meeting:
Pakistan follows the United States in embracing crypto
The government of Pakistan moved to regulate cryptocurrencies as legal tender on Nov. 4, 2024 — the same day as the elections in the United States.
Following the re-election of Donald Trump in the US and the Jan. 20 inauguration, Trump moved quickly to establish pro-crypto policies at the federal level.
On Jan. 23, President Trump signed an executive order establishing the Working Group on Digital Assets — an executive advisory council tasked with exploring compr
ehensive regulatory reform on digital assets.