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Bilal bin Saqib, the head of the newly established Pakistan Virtual Assets Regulatory Authority (PVARA), is facing intense criticism today. During a recent interview with a private news channel, Saqib gave a response that many are calling negligent and bizarre. When asked about purchasing Bitcoin, he advised citizens to simply “watch videos”.
Chairman of Pakistan Virtual Assets Regulatory Authority Bilal Bin Saqib used all Gibberish he know but didnt answer a simple question, How to Buy Bitcoins or Crypto Coins in Pakistan, said go watch videos Online
Great! pic.twitter.com/11eBYC1T6k
— Zubair Ahmed Khan (@ZubairKhanPK) December 17, 2025
The PVARA Head & “Watch Videos” Controversy
Saqib explicitly stated that he is not a financial advisor. However, he suggested that if people want to buy Bitcoins, they should follow the “30-40 million people” who have already started buying digital assets through online videos. He remarked:
So, you should go in the same way.
Social media users immediately slammed this statement. Critics argue that a regulator should provide a secure framework, not tell the public to rely on tutorials. Millions of Pakistanis currently use unregulated peer-to-peer (P2P) markets. Consequently, they remain exposed to high risks without proper institutional guidance.
Furthermore, Saqib attempted to pivot the conversation toward the future. He urged Pakistan to prepare for 2050 by abandoning “conventional wisdom”. He claimed that technologies like artificial intelligence, drones, robotics, and quantum computing will eventually redefine national sovereignty.
How to Actually Buy Bitcoin in Pakistan
Based on the current market infrastructure and regulatory status as of December 2025, here is a concise list of acquisition methods:
- P2P Marketplaces (Standard Method): Use Binance, Bitget, or OKX to buy USDT via Raast or bank transfer from verified local merchants, then trade for other assets.
- Direct Bank Deposit (Emerging): Following recent regulatory clearances (NOCs), Binance has begun rolling out direct PKR deposit/withdrawal options for select users.
- Credit/Debit Cards: Direct purchase via Visa/Mastercard on platforms like Changelly or Binance, though transaction failure rates remain high due to local banking blocks.
- Third-Party Gateways: Integrated services like Banxa or Simplex (available within exchange apps) that process fiat payments for a higher fee.
Crucial Warning: When making bank transfers for P2P trades, NEVER write “Crypto”, “Bitcoin”, or exchange names in the transaction remarks, as this triggers automated account freezes.
The $2 Billion Blockchain Move
While the PVARA head faces backlash for his comments, the Ministry of Finance is moving in a much more formal direction. The Ministry recently signed a Memorandum of Understanding (MoU) with Binance Investments Co., Ltd. This represents Pakistan’s first official step into the blockchain-based distribution of sovereign assets.
The signing ceremony featured heavy hitters. Federal Minister for Finance and Revenue, Muhammad Aurangzeb, and Binance CEO Richard Teng signed the agreement. Notably, Changpeng Zhao (CZ) attended the event in his capacity as an Adviser to the Pakistan Crypto Council.
Tokenising Pakistan’s Sovereign Assets
This MoU establishes a framework to explore the tokenisation of real-world assets. Specifically, the government aims to use blockchain for:
- Government bonds
- Treasury bills
- Commodity reserves
- Other federally owned assets
The initiative may involve assets worth up to $2 billion. This move aims to enhance liquidity and transparency. Additionally, it seeks to improve accessibility for international markets.
