• Announcement comes after finance minister meets delegates from US, described as ‘Trump advisers for digital assets’
• Body will oversee policy development, address regulatory challenges to a crypto-conducive ecosystem
ISLAMABAD: With the Trump administration in the US showing a soft corner for digital assets, authorities in Pakistan appear to be moving quickly to legalise cryptocurrencies — hitherto a no-go area — in the country.
On Tuesday, the finance ministry announced it was considering “establishing a National Crypto Council” to adopt emerging digital currencies, in line with global trends.
An official statement said Finance Minister Muhammad Aurangzeb had a meeting on digital assets with a foreign delegation, “including President Trump’s advisers for digital assets”.
Although the readout did not officially identify the delegates, an official who attended the meeting told Dawn they included Gentry Beach Jr, Nikita Goldsmith, Alex Malkov, and Jerad Finck.
The visit comes after Gentry Beach — a business associate of President Trump’s and the father of one of the delegates who met Mr Aurangzeb on Tuesday — during his last month visit to Islamabad had assured PM Shehbaz Sharif in a meeting about over $1bn investments in Pakistan.
Mr Malkov is described as a consultant for leading blockchain and fintech firms, Mr Finck is the CEO of Cosmic Wire, a company that provides blockchain solutions, while Mr Goldsmith is said to be a tech entrepreneur. It should be noted that the delegation’s visit was not announced by the US Embassy, which usually issues readouts for meetings organised between US and Pakistani officials.
Crypto council
The government said it will consider establishing a crypto council, which will serve as a dedicated advisory body comprising key government representatives, regulatory authorities, and industry experts.
This crypto council will oversee policy development, address regulatory challenges, and ensure that Pakistan’s digital asset ecosystem evolves in a secure, compliant, and sustainable manner. The council will also collaborate with friendly countries to develop standardised frameworks for international digital economic engagement, the statement said.
