Pakistan Moves Towards Crypto Regulation: National Crypto Council in the Works
- Abeera Marium Siddiqui
- February 26, 2025
- 4:30 pm
- 35
- Business
Pakistan is taking steps to regulate digital assets. The government plans to set up the National Crypto Council to create clear policies for cryptocurrencies. This move aims to attract investment, boost the digital economy, and follow global financial standards.
Pakistan’s Shift Toward Crypto Adoption
Finance Minister Muhammad Aurangzeb recently led a high-level meeting on digital assets. Government officials, financial regulators, and foreign experts attended. President Trump’s advisers for digital assets also participated.
The meeting focused on the fast-growing cryptocurrency market. Experts discussed financial security risks, regulatory challenges, and the need for strong policies. Aurangzeb stressed the importance of aligning with Financial Action Task Force (FATF) guidelines and global best practices.
The Role of the National Crypto Council
The National Crypto Council will act as an advisory group. It will include government officials, financial regulators, and industry experts. The council’s main goals are to:
- Develop clear rules for cryptocurrency and blockchain.
- Reduce financial security risks and follow FATF standards.
- Work with global partners on a trusted regulatory system.
- Encourage investment in Pakistan’s digital asset market.
Blockchain Integration and Tokenization Plans
Pakistan is not just working on crypto regulation. The government also wants to use blockchain technology in its financial system. Officials see tokenization as a way to improve liquidity and attract more investors.
Over 20 million Pakistanis are involved in digital assets. However, they face high fees and unclear regulations. The National Crypto Council aims to solve these issues and create a secure, investor-friendly environment.
Pakistan’s Changing Stance on Crypto
Pakistan has previously been strict about cryptocurrency. The State Bank of Pakistan (SBP) and past finance ministers opposed its legalization. However, the new government is more open-minded. Aurangzeb believes Pakistan should explore crypto’s benefits instead of rejecting it.
The meeting ended with a cautious but positive decision. Authorities will develop a balanced approach to support innovation while keeping strong oversight. The National Crypto Council will help shape these policies and ensure they meet international standards.
