Key Points:
- Pakistan National Crypto Council to be established to oversee policy development and crypto regulations in alignment with global standards.
- Finance Minister Muhammad Aurangzeb met with U.S. digital asset advisors, signaling a shift toward a more structured crypto regulatory framework.
- The council aims to integrate blockchain technology into Pakistan’s financial infrastructure and tokenize state assets.
- With over 20 million crypto users in Pakistan, the government seeks to reduce transaction costs and address regulatory uncertainty.
Pakistan’s government is launching the National Crypto Council, signaling a shift toward a regulated digital asset framework. Finance Minister Muhammad Aurangzeb met with U.S. advisors to explore policy developments.
This initiative follows years of regulatory uncertainty in Pakistan’s crypto sector, where the State Bank of Pakistan previously opposed legalization. With over 20 million crypto users in the country, the new council aims to establish compliance with international standards, addressing concerns from financial watchdogs like the Financial Action Task Force (FATF).
Pakistan National Crypto Council to Oversee Crypto Regulations
According to Dawn, the Pakistan National Crypto Council is set to establish as part of its efforts to regulate and integrate digital assets into its financial system. This move follows a high-profile meeting between Finance Minister Muhammad Aurangzeb and advisors to U.S. President Donald Trump on digital assets.
The Pakistan National Crypto Council will serve as a regulatory advisory body, bringing together government officials, financial regulators, and industry experts to shape Pakistan’s crypto policies. Key areas of focus include financial security, compliance with Financial Action Task Force (FATF) guidelines, and ensuring the country’s crypto ecosystem is both sustainable and legally compliant.
Pakistan Shifts Toward a Crypto-Friendly Approach
Until recently, Pakistan maintained a strict anti-crypto stance, with the State Bank of Pakistan (SBP) opposing digital asset legalization and former finance ministers rejecting crypto adoption outright. However, Finance Minister Muhammad Aurangzeb has taken a more open approach, emphasizing the need for a structured and well-regulated framework rather than outright prohibition.
Pakistan’s shift mirrors global trends, particularly in response to the U.S. government’s evolving stance on crypto under President Trump. The government is now exploring ways to create a balanced regulatory environment, addressing concerns such as anti-money laundering (AML) compliance while fostering innovation in blockchain and digital finance.
Blockchain Integration and Economic Modernization
Beyond crypto regulation, the Pakistan National Crypto Council will also focus on integrating blockchain technology into key sectors of the economy. This includes tokenizing state-owned enterprises (SOEs) to enhance liquidity, improving capital market efficiency, and encouraging digital innovation.
With over 20 million crypto users in Pakistan, the government acknowledges the need for a transparent and investor-friendly framework to reduce transaction costs and promote digital finance growth. Discussions are also underway regarding regulatory sandbox programs, allowing businesses to test blockchain solutions within a controlled environment before full-scale implementation.
With its crypto strategy, the establishment of the Pakistan National Crypto Council could set the foundation for a digital economy revolution, positioning the country as a key player in the global crypto landscape.
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