In a significant move towards embracing the digital economy, Pakistan has launched the Pakistan Crypto Council (PCC), a dedicated body tasked with regulating and integrating blockchain technology and digital assets into the country’s financial landscape. (dawn.com)
Leadership and Structure
The PCC is chaired by Finance Minister Muhammad Aurangzeb, underscoring the government’s commitment to evolving the digital economy. Bilal Bin Saqib, appointed as the council’s CEO, brings his expertise in blockchain technology, investment strategy, and digital innovation to spearhead the initiative. (dawn.com)
The council’s immediate board members include the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Secretaries for the Law and IT Ministries. This diverse leadership structure aims to ensure a balanced approach to regulatory oversight, financial stability, legal frameworks, and technological advancements. (tribune.com.pk)
Investor Identification, Introduction, and negotiation.
Strategic Initiatives
In April 2025, the PCC appointed Changpeng Zhao, co-founder and former CEO of Binance, as a strategic adviser. Zhao’s involvement is expected to bring technical expertise, regulatory insight, and visibility to the council’s framework development, especially in areas such as centralized exchange oversight, Know Your Customer (KYC) integration, and custody solutions. (en.wikipedia.org)
In May 2025, the government allocated 2,000 megawatts of surplus electricity in the first phase for bitcoin mining and AI data centers. This initiative aims to monetize surplus electricity, create high-tech jobs, and attract foreign investment, contributing to broader digital infrastructure development in the country. (reuters.com)
Regulatory Framework and Future Plans
The PCC has agreed to form a technical committee to draft a framework for digital and virtual assets. This committee comprises representatives from the State Bank of Pakistan, SECP, Law Division, and IT & Telecom Division. The committee will review draft laws and propose a robust framework and governance structure to be reviewed by the PCC in the next meeting. (dawn.com)
Additionally, the government is considering establishing the Pakistan Virtual Assets Regulatory Authority (PVARA), a proposed autonomous body to oversee the digital finance and cryptocurrency ecosystem in the country. It is not yet clear whether the government will ultimately establish PVARA, the Pakistan Digital Assets Authority (PDAA), or both. (dawn.com)
Economic Impact and Global Positioning
Pakistan currently ranks among the top countries for crypto adoption, with an estimated 20 million active crypto users and over $20 billion in crypto transactions. The establishment of the PCC signifies the government’s proactive stance in positioning Pakistan at the forefront of the global shift towards blockchain and digital asset adoption. By implementing regulatory clarity and a structured approach, the government aims to create a safe and compliant environment for investors, businesses, and innovators in the crypto space. (cryptoslate.com)
Conclusion
The formation of the Pakistan Crypto Council marks a pivotal step in the country’s journey towards embracing digital finance. With a clear regulatory framework, strategic international partnerships, and a focus on economic growth and innovation, Pakistan is poised to become a competitive player in the global digital economy.
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