2 min read
Pakistan is moving forward with efforts to create a clear and structured framework for digital assets, following a meeting between Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and a visiting delegation from Icoin Technology Inc. The meeting, led by Icoin’s Chairman and CEO Chet Silvestri, focused on collaboration, regulatory clarity, and investment opportunities in Pakistan’s emerging digital asset market.
The Finance Minister outlined government plans to create a structured framework for digital assets. He shared updates on the establishment of the Pakistan Crypto Council (PCC) and the Pakistan Virtual Assets Regulatory Authority (PVARA). Senator Muhammad Aurangzeb emphasized that these steps aim to support financial inclusion, transparency, consumer protection, and orderly market growth.
He noted Pakistan’s increasing participation in global digital asset activity and stressed the government’s goal to manage this growth through regulation. The minister added that clear policies will guide market participants, align with international practices, and coordinate regulators, including the central bank.
Chet Silvestri discussed experiences from the United States and Canada, where clear rules allow banks to engage with digital assets through existing systems. He highlighted wallet-based middleware and switching technologies that help banks manage liquidity, maintain compliance, and offer digital asset services safely.
The delegation said blockchain technology and stablecoins can modernize financial systems, enabling faster and lower-cost transactions while staying within regulatory oversight. They also noted that young populations in multiple markets are adopting digital assets and that banks can help keep these activities within formal financial systems.
Discussions included Icoin Technology’s global partnerships and interest in exploring opportunities in Pakistan with local partners. The delegation sought advice on regulatory pathways, licensing, and collaboration with banks and authorities.
Senator Muhammad Aurangzeb recommended starting engagement with banks and other institutions while continuing discussions with regulators, including the State Bank of Pakistan. He said Pakistan is at an early stage in developing its digital asset ecosystem and welcomed responsible investment and knowledge-sharing.
Both sides agreed to maintain communication and explore potential cooperation to support Pakistan’s digital asset market. The delegation also included Lt. Gen. (R) Terry Robling, Advisor to Icoin Technology, and Techaccess executives Mahmood Azhar Jabbar and Tariq Hafeez Malik.
