Pakistan has officially introduced the Pakistan Crypto Council (PCC) as part of its initiative to integrate blockchain technology and digital assets into its financial sector. The Finance Division has confirmed that this government-backed entity will oversee regulatory measures, facilitate blockchain adoption, and ensure cryptocurrency innovations align with the national financial system.
The decision to establish the PCC follows a meeting on February 25 between Finance Minister Muhammad Aurangzeb and an international delegation. During this meeting, discussions were held regarding the formation of a National Crypto Council to keep pace with global digital currency advancements. To further this initiative, the federal government appointed entrepreneur Bilal Bin Saqib as the chief adviser to the finance minister for the council, viewing this step as a pivotal move in evaluating the role of digital currencies in the country’s economic landscape.
The Finance Division has highlighted the launch of the council as a crucial milestone in regulating and incorporating blockchain technology within Pakistan’s financial framework. The council is expected to play an instrumental role in policy development, fostering financial innovation, and ensuring a secure and progressive approach toward cryptocurrency adoption.
Leadership and Regulatory Oversight
The finance minister will serve as the chairman of the newly formed Crypto Council, while Bilal Bin Saqib will take on the role of CEO. The board members will include prominent figures such as the governor of the State Bank of Pakistan, the chairman of the Securities and Exchange Commission of Pakistan (SECP), as well as the federal law and IT secretaries. This diverse leadership composition is designed to ensure a balance between regulatory oversight, financial stability, and technological advancements, fostering a structured approach to developing Pakistan’s crypto ecosystem.
According to government representatives, the establishment of the PCC signifies Pakistan’s commitment to becoming a leading force in digital finance. Authorities have emphasized that the country seeks to embrace innovation while simultaneously developing a regulatory framework that protects investors and maintains the stability of the financial system. The initiative aims to cultivate a responsible and progressive cryptocurrency environment capable of contributing to national economic growth.
Building a Competitive Digital Economy
The leadership of the Crypto Council has underlined that the initiative is not merely about regulation but is also focused on fostering an environment where blockchain technology and digital finance can flourish. The council’s objectives include ensuring Pakistan emerges as a competitive player in the global digital economy while maintaining security, transparency, and technological advancements.
Key stakeholders will collaborate to create a balanced ecosystem where entrepreneurs and businesses can explore blockchain’s potential with confidence. The council plans to establish regulatory frameworks to facilitate crypto adoption, engage with international blockchain organizations to implement best practices, and encourage responsible innovation by working closely with fintech startups, investors, and blockchain developers.
Consumer protection and financial security will also be prioritized through the development of stringent legal and compliance structures. Authorities have reiterated that maintaining robust oversight will be fundamental to securing trust in Pakistan’s digital finance sector.
Future Steps for Crypto Regulation
Looking ahead, the Pakistan Crypto Council is set to introduce clear regulatory guidelines that will support the country’s cryptocurrency adoption. Collaboration with global blockchain organizations will be a key part of this strategy to ensure the implementation of best regulatory practices. Additionally, efforts will be made to foster innovation while upholding security measures that protect both consumers and financial institutions.
Through these developments, Pakistan aims to position itself at the forefront of digital finance, ensuring that its blockchain initiatives contribute meaningfully to the broader economy while maintaining a well-regulated and transparent financial system.