Pakistan's Strategic Shift Toward Cryptocurrency Regulation and Innovation
In a significant policy transformation, Pakistan is embracing cryptocurrency and blockchain technologies, marking a departure from its previous restrictive stance. The government has initiated comprehensive measures to regulate digital assets, promote innovation, and integrate blockchain into the national economy.
Government Initiatives and Legislative Developments
On March 14, 2025, the Pakistani government established the Pakistan Crypto Council (PCC), a government-backed body aimed at regulating and promoting blockchain technology and digital assets within the country. Finance Minister Muhammad Aurangzeb chairs the PCC, with Bilal Bin Saqib serving as its CEO. The council's mandate includes developing clear regulatory policies, engaging stakeholders, and positioning Pakistan as a key player in the global digital asset landscape .
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Radio Pakistan
Complementing this initiative, the Virtual Assets Bill 2025 has been introduced in the Senate. The bill seeks to establish a legal framework for the issuance, trading, and management of virtual assets, including cryptocurrencies. Key provisions include the creation of Virtual Asset Zones in regions with surplus renewable energy, licensing requirements for exchanges and service providers, and strict compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations .
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Life in Pakistan
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Strategic Appointments and International Collaboration
In a move to align with global best practices, the PCC appointed Changpeng Zhao, founder of Binance, as a strategic adviser. Despite facing legal challenges in the U.S., Zhao's expertise is expected to contribute to the development of blockchain infrastructure, regulatory frameworks, and national digital initiatives in Pakistan .
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Economic Implications and Future Outlook
Pakistan's shift toward embracing digital assets is driven by the potential for economic growth, job creation, and increased digital exports. With an estimated 15-20 million crypto users and a significant freelancer economy, the country aims to leverage its young, tech-savvy population to become a hub for emerging technologies .
Reuters
The government's proactive approach, including regulatory clarity and international collaboration, positions Pakistan to capitalize on the opportunities pr
esented by the global digital economy.