Pakistan launches Crypto Council to regulate, adopt digital finance

ISLAMABAD: The government of Pakistan has officially launched the Pakistan Crypto Council to regulate and integrate blockchain technology and digital assets into the country’s financial landscape.

According to the official statement, Finance Minister Muhammad Aurangzeb will serve as the Chair of the Pakistan Crypto Council, demonstrating the government’s commitment to the evolving digital economy and efforts to adopt digital finance.

The PCC will regulate, promote, and incorporate blockchain and cryptocurrency innovations into Pakistan’s economic and financial framework.

“The council is set to play a pivotal role in formulating policies, fostering innovation, and ensuring a secure and forward-thinking approach to crypto adoption in Pakistan,” the statement read.

The development came after Bilal bin Saqib was recently appointed as Chief Advisor to the Finance Minister for the council.

Speaking on the launch of the Council in Islamabad, Muhammad Aurangzeb said the establishment of the Pakistan Crypto Council is a step towards embracing innovation while ensuring a regulatory framework that protects investors and the financial system.

He said the government is committed to fostering a responsible and progressive crypto ecosystem that can contribute to Pakistan’s economic growth.

The Pakistan Crypto Council will focus on developing clear regulatory policies, engaging stakeholders from both the public and private sectors, and positioning Pakistan as a key player in the global digital asset landscape, he added.