Pakistan plans to establish national crypto council

Pakistan's Minister of Finance and Revenue has indicated the potential establishment of a National Crypto Council to spur innovation and investment in digital assets.
The announcement followed a high-level meeting chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.
Senator Aurangzeb emphasized the importance of a well-regulated digital asset framework that aligns with international best practices and complies with Financial Action Task Force (FATF) guidelines.
He underscored the government's commitment to exploring digital assets and integrating blockchain technology as part of a broader strategy to modernize the financial sector.
The meeting also covered the tokenization of key infrastructure and state-owned enterprises (SOEs) assets, aiming for increased liquidity, broader investor participation, and greater efficiency in capital markets.
Various stakeholders, including foreign and domestic investors, have developed product-ready digital asset solutions that could be explored within a regulatory sandbox.
Pakistan has over 20 million active users in the digital asset market, who face significant challenges, such as high transaction fees.
The minister reaffirmed his commitment to regulating and supporting this industry by adopting appropriate frameworks, laws, and incentives to ensure transparency and facilitate digital business growth.
He instructed relevant stakeholders to develop a comprehensive framework ensuring security, transparency, regulatory compliance, and economic viability while safeguarding against financial crimes and illicit activities.
He stressed the need for a balanced approach that encourages innovation and investment in digital assets while maintaining strict regulatory oversight in line with international standards.
To advance this initiative, the government will consider establishing a National Crypto Council, a dedicated advisory body comprising key government representatives, regulatory authorities, and industry experts. This council will oversee policy development, address regulatory challenges, and ensure that Pakistan's digital asset ecosystem evolves securely, compliantly, and sustainably.

The Council will also collaborate with friendly countries to develop standardized frameworks for international digital economic engagement.
The meeting concluded with a consensus on adopting a cautious yet forward-looking approach, ensuring that future developments in the digital asset space align with national interests, FATF guidelines, and global financial standards.