Pakistan Speeds Up Crypto Regulation with New Committee

In a landmark step towards embracing digital finance, the Pakistan Crypto Council (PCC) has formed a technical committee to prepare exhaustive laws and a regulatory framework for digital and virtual assets. The move was made during a high-level meeting presided over by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.

The session had notable attendees, including Bilal Bin Saqib MBE, Minister of State/Special Assistant to the Prime Minister on Blockchain and Crypto and CEO of the PCC, who attended remotely. Other participants were the Governor of the State Bank of Pakistan, Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Federal Secretaries for Law and IT.

The newly established technical committee will have the mandate to examine current draft legislation and recommend a strong governance framework for digital assets. This effort reflects Pakistan’s determination to create an environment conducive to secure and innovative growth in blockchain and cryptocurrency technology.

Through keeping regulatory efforts aligned with best practices around the world, Pakistan looks to position itself as a competitive force in the international digital economy while assuring investor protection and financial system stability.