Changpeng "CZ" Zhao, co-founder and former CEO of Binance, has been appointed as a strategic adviser to Pakistan's newly established Crypto Council. This move underscores Pakistan's commitment to integrating cryptocurrency and blockchain technology into its financial

Reasons Behind Pakistan's Embrace of Cryptocurrency:

1. Large Unbanked Population: A significant portion of Pakistan's adult population lacks access to traditional banking services. Cryptocurrencies offer an alternative means for these individuals to participate in the financial system.

2. High Remittance Inflows: As one of the top recipients of global remittances, Pakistan stands to benefit from the lower transaction costs and faster transfer times associated with cryptocurrencies.

3. Youth-Dominated Demographics: With over 60% of its population under the age of 30, Pakistan boasts a tech-savvy and adaptable workforce, positioning the country favorably for the adoption of digital financial technologies.

4. Rising Inflation and Currency Devaluation: Economic challenges, including inflation and currency depreciation, have led many Pakistanis to view cryptocurrencies as a hedge against financial instability.

Implications of CZ's Advisory Role:

The inclusion of CZ as a strategic adviser is poised to:

- Enhance Legitimacy: His global stature lends credibility to Pakistan's efforts in formulating and implementing crypto regulations.

- Provide Global Expertise: CZ's extensive experience in the crypto industry offers valuable insights into best practices and innovative strategies.

- Boost Investor Confidence: His involvement may attract international investors and venture capitalists, fostering growth in Pakistan's crypto sector.

- Facilitate Clearer Regulations: Collaborating with seasoned professionals like CZ can aid in developing comprehensive and effective regulatory frameworks.

This strategic appointment reflects Pakistan's proactive approach to embracing digital finance and its potential to drive economic growth.

https://cointelegraph.com/news/pakistan-appoints-changpeng-zhao-crypto-adviser