Pakistan Establishes Crypto Council to Regulate Digital Assets
A Major Step Towards Crypto Regulation
ISLAMABAD: Pakistan has taken a significant step towards regulating cryptocurrency by forming the Pakistan Crypto Council, a high-powered body dedicated to establishing clear guidelines for digital asset adoption. This move signals the government’s intent to bring transparency and stability to a sector that has long operated in regulatory limbo.
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| Pakistan Establishes Crypto Council to Regulate Digital Assets |
Government’s Commitment to Digital Finance
The council, constituted by Prime Minister Shehbaz Sharif, will be chaired by Minister for Finance and Revenue Muhammad Aurangzeb, highlighting the government’s commitment to the evolving digital economy.
Key officials in the council include:
State Bank Governor
Federal Secretaries for Law, Justice, and Information Technology
Bilal Bin Saqib, Chief Advisor to the Finance Minister on the Pakistan Crypto Council, appointed as the CEO of the Council
Additional subject matter experts are expected to join in subsequent phases, ensuring a well-rounded regulatory framework.
Addressing Crypto Adoption & Financial Security
The formation of this council comes amid growing global and domestic interest in digital currencies and blockchain technology. Despite regulatory uncertainty, Pakistan has seen a surge in crypto transactions. The council aims to balance innovation with financial security by:
Establishing clear regulatory guidelines for crypto adoption
Engaging with international blockchain organizations to follow best practices
Encouraging responsible innovation by collaborating with fintech startups, investors, and blockchain developers
Protecting consumers and ensuring financial security through robust legal and compliance frameworks
A Shift Towards Integration in Financial Systems
This initiative marks a shift from past skepticism, aligning with approaches taken by countries like India and the UAE, where digital assets are being integrated within existing financial frameworks.
International Collaboration & Compliance
Sources indicate that international collaboration will be a key focus of the council. Ensuring compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations will be a priority. While the State Bank of Pakistan has previously warned about the risks of crypto, structured regulations could reshape Pakistan’s financial landscape and digital economy.
Leaders Speak on the Initiative
Speaking on the launch of the council, Finance Minister Muhammad Aurangzeb stated:
"The world is moving rapidly toward digital finance, and Pakistan wishes to be a leader in this space. The establishment of the Pakistan Crypto Council is a step towards embracing innovation while ensuring that we create a regulatory framework that protects investors and the financial system. We are committed to fostering a responsible and progressive crypto ecosystem that can contribute to Pakistan’s economic growth."
Bilal Bin Saqib, the newly appointed CEO of the Pakistan Crypto Council, emphasized the significance of this initiative:
"This council is not just about regulations — it’s about creating an ecosystem where blockchain and digital finance can thrive. Our goal is to ensure that Pakistan becomes a competitive player in the global digital economy while prioritizing security, transparency, and innovation. By bringing together key stakeholders, we aim to strike a balance between progressive policymaking and fostering an environment where entrepreneurs and businesses can confidently explore the potential of blockchain technology."
A Progressive Move for Pakistan’s Digital Future
The formation of the Pakistan Crypto Council is a groundbreaking step in positioning the country as a leader in digital finance. By prioritizing regulatory clarity, financial security, and global collaboration, Pakistan aims to embrace blockchain innovation while ensuring a stable and secure financial ecosystem.