Pakistan is taking steps to establish a legal framework for cryptocurrency, as the country is aiming to position itself as a crypto-friendly destination for international investors.
The move marks a shift from previous uncertainty, as officials now seek regulatory clarity to attract blockchain-powered financial innovation.
“Pakistan is done sitting on the sidelines; we want to have regulatory clarity. We need to have a legal framework that is pro-business,” said Bilal Bin Saqib, CEO of the Pakistan Crypto Council, in an interview with Bloomberg on March 20.
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Pakistan’s Young Workforce Key To Blockchain Growth, Says Adviser
Saqib, who was recently appointed chief adviser to Pakistan’s finance minister for cryptocurrency management, emphasized that the country’s young population could drive blockchain adoption.
“Sixty percent of the population is under 30, and we have a Web3-native workforce ready to build,” he noted.
Pakistan ranked ninth globally for crypto adoption in 2023, according to Chainalysis, with an estimated 20 million Pakistani crypto users.
Saqib believes the country must move quickly to remain competitive, particularly as global leaders integrate crypto into financial strategies.
Calling US President Donald Trump “the biggest bullish catalyst for crypto in history,” Saqib pointed to Trump’s plans for a Bitcoin reserve and crypto stockpile, arguing that other nations, including Pakistan, must follow suit to stay relevant.
BREAKING:
PAKISTAN TO LEGALIZE CRYPTOCURRENCY. pic.twitter.com/EULt5umUVj
— Crypto Rover (@rovercrc) March 20, 2025
Saqib, who was named CEO of the Pakistan Crypto Council on 14 March 2025, sees crypto as a major opportunity for developing nations.
He highlighted how blockchain could revolutionize remittances and trade, reducing reliance on traditional banking and lowering costly fees, which currently range between 5-9% for cross-border payments.
“Pakistan is open for business,” he declared, signaling the country’s commitment to embracing digital assets.
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Pakistan Plans National Crypto Council To Shape Regulatory Framework
Pakistan’s finance ministry is moving toward formal crypto regulation with plans to establish a National Crypto Council, signaling a potential shift in the country’s stance on digital assets.
Last month, Finance Minister Muhammad Aurangzeb met with a foreign delegation to discuss crypto-related investment and policy development.
Among the attendees was Gentry Beach Jr., a business associate who recently pledged $1 billion in investments to Pakistan. The delegation also included tech entrepreneur Nikita Goldsmith, blockchain consultant Alex Malkov, and Cosmic Wire CEO Jerad Finck.
Until recently, Pakistan’s government and central bank had strongly opposed cryptocurrency regulation. Previous finance ministers dismissed the legalization of digital assets, and the State Bank of Pakistan repeatedly warned against their use.
However, Aurangzeb has called for a more open approach, suggesting that the government should evaluate the potential of the sector rather than dismiss it outright.
The proposed National Crypto Council would serve as an advisory body comprising government officials, regulatory authorities, and industry experts, according to the finance ministry.
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Key Takeaways
- Pakistan is moving toward crypto regulation, aiming to attract international investors and position itself as a blockchain-friendly economy.
- The country’s young, Web3-native workforce is seen as a key driver of blockchain adoption, with over 20 million estimated crypto users.
- Pakistan plans to establish a National Crypto Council, signaling a shift from past resistance to a more open approach to digital assets.
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