In a significant policy shift, Pakistan’s Finance Minister Muhammad Aurangzeb announced plans to establish a National Crypto Council to oversee the adoption and regulation of digital currencies. This move aligns with global trends and follows a meeting with a U.S. delegation, including advisers associated with former President Trump, who are prominent in the digital assets sector.
The proposed council aims to serve as an advisory body comprising government officials, regulatory authorities, and industry experts. Its mandate includes developing policies, addressing regulatory challenges, and ensuring the secure and sustainable growth of Pakistan’s digital asset ecosystem. Additionally, the council will collaborate internationally to create standardized frameworks for digital economic engagement.
This development marks a departure from Pakistan’s previous stance, where both the government and the State Bank of Pakistan were opposed to legalizing cryptocurrencies. Finance Minister Aurangzeb emphasized the need for a well-regulated digital asset framework that aligns with international best practices and complies with Financial Action Task Force (FATF) guidelines. The discussions also explored the potential integration of blockchain technology to modernize the country’s financial sector.
The announcement follows recent legislative efforts, including the introduction of the “Virtual Assets Bill 2025” by Senator Dr. Afnan Ullah Khan, aiming to establish a comprehensive regulatory framework for digital assets in Pakistan.
As Pakistan moves towards embracing digital currencies, the establishment of the National Crypto Council signifies a proactive approach to integrating into the global digital economy while ensuring financial security and compliance.
