Pakistan is moving towards legalizing cryptocurrency trading as part of a broader strategy to attract foreign investment and modernize its financial sector.
Bilal bin Saqib, CEO of the Pakistan Crypto Council, revealed that the country is actively developing regulations to establish a structured ecosystem for crypto trading and investment.
By providing legal clarity and security, the government aims to encourage both local and international investors to participate in the digital asset market.
The shift aligns Pakistan with global trends, recognizing the potential of blockchain technology to drive economic growth and financial inclusion.
Pakistan’s Ambition to Become a Regional Cryptocurrency Hub
With an increasing focus on digital finance, Pakistan aims to position itself as a leading cryptocurrency hub in South Asia, competing with financial powerhouses like Dubai, Singapore, and Hong Kong.
Bilal bin Saqib’s appointment as the chief adviser to the finance minister on digital asset management highlights the government’s commitment to integrating blockchain technology into the country’s financial infrastructure.
His expertise is expected to help shape policies that promote responsible crypto adoption while addressing associated risks.
By fostering innovation in the digital economy, Pakistan hopes to attract fintech companies, blockchain startups, and institutional investors, solidifying its presence in the global crypto market.
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AI Integration and Digital Advancements in Government Operations
Beyond cryptocurrency regulation, Pakistan is also embracing artificial intelligence (AI) to enhance governance and public sector efficiency.
Saqib is advising the government on AI-driven strategies to optimize resource allocation, improve decision-making, and introduce transparency in various government operations.
The dual focus on cryptocurrency and AI demonstrates Pakistan’s ambition to modernize its digital infrastructure and keep pace with global technological advancements.
By integrating emerging technologies, the country seeks to improve public services, enhance economic productivity, and attract technology-driven investments that will contribute to long-term national growth.
Growing Crypto Adoption and Pakistan’s Strategic Policy Shift
Pakistan ranks ninth globally in cryptocurrency adoption, with an estimated 15 to 20 million active crypto users, according to Chainalysis.
The widespread adoption underscores the urgent need for regulatory clarity to safeguard investors and facilitate secure transactions. This moves marks a next step in the initial move by Pakistan to legalize cryptocurrencies.
Saqib noted that global trends, such as the United States prioritizing cryptocurrency under Trump’s administration, are influencing Pakistan’s policy decisions.
Additionally, Pakistan has established a National Crypto Council and is considering amendments to the State Bank of Pakistan Act to enable the issuance of a central bank digital currency (CBDC).
These efforts indicate the country’s readiness to embrace digital assets, attract foreign capital, and establish itself as a progressive force in the evolving global financial landscape.
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