Asia Web3 Alliance Japan (AWAJ) President Hinza Asif has called for a unified industry representative body in Pakistan to protect digital asset investors and improve coordination with international cryptocurrency exchanges, following a multibillion-dollar cybersecurity breach involving Binance.
In a statement, Ms Asif said the growing crypto market in Pakistan lacks verified investor data and an organised mechanism to represent stakeholders during major cybersecurity or financial incidents involving international exchanges.
She said breaches at large exchanges can cause financial losses, unauthorised transactions and withdrawal disruptions, which may damage investor confidence. The impact of the Binance incident on Pakistani investors remains unclear and requires independent verification, she added.
Pakistan ranked third in Chainalysis 2025 Global Crypto Adoption Index. Estimates put the number of crypto-linked accounts at around 40 million, with digital asset exposure between $10 billion and $20 billion. These figures have not been officially verified as representing individual investors.
“The question is who will represent and protect Pakistani investors if an international exchange faces a major cybersecurity or financial crisis,” Ms Asif said. She noted that the country has no established mechanism to coordinate investor complaints or engage with international exchanges in such cases.
Ms Asif welcomed the regulatory initiatives of government through the Pakistan Virtual Assets Regulatory Authority (PVARA). She said the regulator and an independent industry association would play complementary roles.
PVARA would oversee regulatory matters within its legal mandate, while an industry body would give fintech companies, blockchain businesses, technology professionals and investors a platform to raise concerns and engage with policymakers.
She also called for a national digital finance platform backed by reliable market research, coordinated investor grievance mechanisms, cybersecurity awareness and formal partnerships with international industry organisations.
Ms Asif said the digital finance potential goes beyond crypto trading to include blockchain applications, digital payments, fintech entrepreneurship and international investment.
