Exchange companies in Pakistan could soon launch dedicated crypto windows under a landmark government-backed proposal.
Exchange Companies Association held talks with senior government officials in Islamabad this week, discussing formal entry into the cryptocurrency market for licensed exchange firms.
The delegation, led by ECAP Chairman Malik Bostan and Secretary General Zafar Paracha, met Minister of State for Finance Bilal Azhar Kayani in the capital.
ECAP representatives also held a separate meeting with Bilal Bin Saqib, who serves as head of the newly established national Crypto Council of Pakistan.
The Proposal
Industry leaders have formally proposed that licensed exchange companies be permitted to operate a dedicated cryptocurrency window within their existing financial operations.
The proposal would allow regulated crypto trading under the current financial framework in Pakistan, bringing an informal market into the country’s official economic system.
Scale of Crypto Market in Pakistan
According to ECAP Secretary General Zafar Paracha, between 25 and 30 million Pakistanis are currently trading cryptocurrencies through largely informal and unregulated channels across the country.
He confirmed that the total crypto market volume in Pakistan has already surpassed 20 billion dollars, reflecting substantial economic activity despite the absence of formal regulatory oversight.
Exchange companies currently bring approximately 12 billion dollars in foreign exchange into Pakistan annually through their existing licensed financial operations and remittance services.
Projected Economic Impact
If cryptocurrency trading is formally authorised, Paracha stated that annual foreign exchange inflows could potentially double, rising from 12 billion to 24 billion dollars each year.
ECAP Chairman Malik Bostan confirmed that Crypto Council head Bilal Bin Saqib has assured the association of full cooperation in facilitating and advancing the regulatory process.
The meetings signal growing coordination between government policymakers, financial regulators, and industry stakeholders over the future framework for digital assets in Pakistan.
