Pakistan officially launches regulatory body for crypto and digital assets

The Finance Division on Friday announced the official launch of the Pakistan Crypto Council (PCC), aimed at integrating blockchain technology and digital assets into the financial system.

This initiative has the potential to significantly reduce fraud, scams, and crimes associated with digital or virtual currencies.

Pakistan’s Finance Minister Muhammad Aurangzeb will chair this regulatory council, while Bilal Bin Saqib, the chief advisor to the minister, has been appointed as the council's CEO.

Other key members include the governor of the central bank, the chairman of the Securities and Exchange Commission of Pakistan, and federal secretaries of the law and IT ministries.

Additionally, there is consideration of introducing a Pakistani digital currency, which could play a vital role in strengthening the Pakistani rupee.

Aurangzeb emphasized that the global shift toward digital finance presents an opportunity for Pakistan to take a leadership role. “We are committed to fostering a responsible and progressive crypto ecosystem that can contribute to Pakistan’s economic growth,” he said.

Saqib noted that the council’s goal is to position Pakistan as a competitive player in the global digital economy.

“By bringing together key stakeholders, we aim to strike a balance between progressive policymaking and fostering an environment where entrepreneurs and businesses can confidently explore the potential of blockchain technology,” he said.

PCC will prioritize developing clear regulatory policies, engaging stakeholders from the public and private sectors, and solidifying Pakistan’s position as a key player in the global digital asset landscape.

Recently, the Pakistan Muslim League-Nawaz (PML-N), the ruling party, unveiled the Virtual Assets Bill 2025. This pioneering legislation seeks to establish a robust regulatory framework for the rapidly evolving digital asset landscape, encompassing cryptocurrencies and blockchain technologies within the country.