Bilal Bin Saqib, the chief adviser to the finance minister of the Pakistan Crypto Council, said that the country planned to legalise cryptocurrency to lure international investment in Pakistan, Bloomberg reported.
In an interview with Bloomberg, Saqib said Pakistan aimed to create “a clear regulatory framework for governing digital-asset activities to boost the local ecosystem”.
“Pakistan is done sitting on the sidelines,” he said, adding that they wanted to attract international investment because the country was a “low-cost high-growth market with 60 per cent of the population under 30.
“We have a Web3 native workforce ready to build,” he said.
On February 25, the finance ministry announced it was considering “establishing a National Crypto Council” to adopt emerging digital currencies in line with global trends, appointing Bilal bin Saqib as the chief adviser to the finance minister on the council.
The crypto council is designed to 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 standardised frameworks for international digital economic engagement.
Saqib said, “Trump is making crypto a national priority and every country including Pakistan will have to follow suit.”
US President Donald Trump has announced the names of five digital assets he expects to include in a new US crypto strategic reserve, spiking the market value of each.
The Republican president won support from the crypto industry in his 2024 election bid, and he has quickly moved to back their policy priorities. Under his Democratic predecessor, Joe Biden, regulators cracked down on the industry in a bid to protect Americans from fraud and money laundering.
Trump said on social media that his January executive order on digital assets would create a stockpile of currencies including Bitcoin, Ether, XRP, SOL and ADA.
Trump said his order “directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the US is the Crypto Capital of the World.”
