Pakistan is taking a significant step toward integrating cryptocurrency into its financial system by prioritizing regulatory frameworks and recognizing digital assets as a key part of its economic future. As one of the top 10 countries in global crypto adoption, the government aims to establish policies that ensure compliance, security, and innovation in the digital financial sector.
The newly appointed Chief Advisor to the Finance Minister for the Pakistan Crypto Council, Bilal Bin Saqib, emphasized on Friday that Pakistan’s strong position in crypto adoption presents a major opportunity. He stated that the Pakistan Crypto Council is committed to recognizing cryptocurrency as a strategic asset, developing comprehensive regulations, and ensuring compliance to position Pakistan as a leader in the digital financial revolution.
Pakistan is one of the 10 countries worldwide that have approved the use of cryptocurrency and have established official regulations regarding it. Pakistan has the opportunity to assess its digital currency protocol through financial security and risk management initiatives and crypto asset economic evaluations as a result of Bilal bin Saqib’s recent appointment.
In a post on X, Bilal stated, “Moving forward, it will be our priority to recognise crypto as a strategic asset, develop comprehensive and forward-thinking regulatory frameworks, and ensure compliance to position Pakistan as a leader in the digital financial revolution.”
Bilal also reflected on the recent developments in the United States, where President Donald Trump signed an executive order to establish a Bitcoin Strategic Reserve. He highlighted the significance of this move, noting that it marks a pivotal moment in the global economy. According to Bilal, this decision signals a shift in how nations perceive value, moving away from traditional assets like gold and oil and embracing a digital future.
“The US just made a historic Bitcoin move. The decision to establish a Bitcoin Strategic Reserve marks a pivotal moment for the global economy. It signals a shift in how nations perceive value, moving beyond traditional assets like gold and oil to embrace the digital future,” Bilal wrote.
Bilal further commented that the US’s decision to name Bitcoin its “digital gold” status confirmed the strategic power of Bitcoin involvement in national reserves. The move strengthens cryptocurrency legitimacy while it speeds up institutional acceptance and provides nations with an example to build a new financial system for the future of global finance.
Last month, Finance Minister Muhammad Aurangzeb led a top-tier meeting that focused on the spreading popularity of digital currencies as countries developed their international regulatory systems. The latest meeting stressed both the significance of maintaining Pakistani regulations according to world standards particularly the Financial Action Task Force guidelines (FATF) and the necessity for financial security alongside risk mitigation.
“It was noted that various stakeholders, including foreign and domestic investors, have already developed product-ready digital asset solutions that could be explored within a regulatory sandbox,” the Finance Division stated.
Pakistan currently boasts over 20 million active users in the digital asset market, many of whom face challenges like high transaction fees. The Finance Division indicated through their statement that Pakistan should test digital asset solutions inside regulatory sandboxes to stimulate further growth in the digital asset industry.
By taking these steps, Pakistan is positioning itself as a forward-thinking nation in the global cryptocurrency space, with a clear vision of embracing the digital financial future.