1. Strategic Shift: From Crypto Ban to National Policy Framework
Pakistan has transitioned from a restrictive stance on cryptocurrencies toward a comprehensive regulatory framework. In early 2025, the Pakistan Crypto Council (PCC) was launched under the Finance Ministry, with Finance Minister Muhammad Aurantazeb as chair and entrepreneur Bilal Bin Saqib as CEO and Special Assistant to the Prime Minister. Changpeng Zhao, co‑founder of Binance, joined as strategic adviser Wikipedia+15The Nation+15Geo News+15.
2. Virtual Assets Ordinance 2025 & the Launch of PVARA
On July 8, 2025, President Zardari promulgated the Virtual Assets Ordinance, 2025, establishing the Pakistan Virtual Asset Regulatory Authority (PVARA). The independent body is empowered to license, regulate, and supervise virtual asset service providers, enforce FATF‑compliant AML/KYC standards, and oversee innovation via a regulatory sandbox and a Sharia Advisory Committee Dawn+1Wikipedia+1.
3. Integration into the Economy
The government is fast‑tracking crypto integration into mainstream sectors. Plans are underway to license crypto trading banks and integrate digital assets across traditional financial systems, forex, and gold markets Profit by Pakistan Today+1The Times of India+1.
4. Energy‑Driven Infrastructure Push
Pakistan is allocating 2,000 megawatts of surplus electricity to power Bitcoin mining operations and AI data centres. This move is part of a multi‑phase infrastructure strategy tied to the broader digital economy agenda Financial Times+5Reuters+5Wikipedia+5.
5. National Strategic Bitcoin Reserve
At the Bitcoin 2025 Conference in Las Vegas, Prime Minister’s advisor Bilal Bin Saqib unveiled Pakistan’s first Strategic Bitcoin Reserve, pledging never to sell it. The project is intended as a long-term store of value and a symbol of crypto commitment The News International+13Wikipedia+13Wikipedia+13.
6. CBDC Pilot & Global Benchmarking
Central Bank Governor Jameel Ahmad has announced plans to launch a pilot for a Central Bank Digital Currency (CBDC), aligning Pakistan with progressive monetary peers such as India and China. Legislation to govern digital and virtual assets is nearing finalization Profit by Pakistan Today+2Reuters+2tribune.com.pk+2.
7. Opportunities & Risks
Pakistan ranks among the top 10 nations in global crypto adoption, buoyed by a youth‑heavy population and remittance-driven demand The Nation. Advocates argue that structured laws will safeguard consumer protection, attract foreign investment, and foster fintech innovation. However, critics caution against rushed implementation. Key risks include money laundering, tax evasion, volatility, and enforcement gaps—exemplified by prior crypto scams affecting millions Dawn.
Keywords: Pakistan crypto regulation, PVARA, Pakistan Crypto Council, virtual assets law, bitcoin mining Pakistan, CBDC pilot.
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🧭 What’s Next?
PVARA licensing guidelines will determine market participants’ credibility and compliance.
The CBDC pilot outcome may shape Pakistan’s digital monetary infrastructure.
Monitoring investor safeguards and AML enforcement will be crucial to balancing innovation with risks.
Pakistan’s regulatory overhaul marks a bold pivot in its digital finance trajectory. By combining institutional readiness with global partnerships and youth-driven adoption, it aims to transform from crypto skeptic to regional innovator — as long as it safeguards stability and integrity