Pakistan accelerates push to operationalize regulatory framework for digital assets
KARACHI: Pakistan's Finance Minister Muhammad Aurangzeb on Thursday stressed operationalizing a framework to harness blockchain and crypto technologies' economic potential and to fast-track their approval process, the Finance Division said amid Islamabad's push to adopt digital assets.
Islamabad established the Pakistan Crypto Council (PCC) in March to help guide national policy on blockchain, digital currencies and crypto-related investments. This was followed by the government's announcement of a Strategic Bitcoin Reserve (SBR) at the Bitcoin 2025 Conference in Las Vegas, making Pakistan one of the first Asian countries to integrate Bitcoin into its sovereign asset strategy. The government also plans to establish an autonomous regulatory body to oversee the country's digital finance and crypto ecosystem.
Aurangzeb chaired a meeting at the Finance Division to review progress on the development of a comprehensive regulatory framework for digital and virtual assets in the country. The law ministry tabled a draft of the proposed legal framework during the meeting, which was developed through close collaboration with members of the PCC, key stakeholders and technical experts.
'During the meeting, the draft was thoroughly reviewed and refined,' the Finance Division said. 'It was collectively agreed that in-principle approval process will be fast-tracked to ensure timely enactment and effective implementation.'
The draft legislation outlines a regulatory structure for digital and virtual assets, encompassing governance mechanisms, licensing protocols and investor protection provisions, the statement said. The proposed framework seeks to position Pakistan as a forward-looking participant in the digital asset ecosystem, it added.
'BEST IDEAS'
Separately, Pakistan's State Minister for Crypto and Blockchain Bilal Bin Saqib met over a dozen key American officials and lawmakers in Washington to strengthen cooperation in digital assets, blockchain regulation, and financial innovation, his office said.
Saqib met Senator Cynthia Lummis, co-author of the Lummis-Gillibrand Responsible Financial Innovation Act and co-sponsor of the BITCOIN Act, which seeks to designate Bitcoin as a strategic reserve asset.
Saqib's office said Lummis has been a leading advocate for 'thoughtful and comprehensive' crypto legislation in the US.
He also met Senator Ted Cruz, Congressman Troy Downing, who is a member of the House Financial Services Subcommittee on Digital Assets, Congressman Ryan Zinke, Congressman Rick McCormick, and Congressman Derrick Van Orden.
Saqib's office said these lawmakers were engaged in shaping policy frameworks related to emerging technologies in the US.
'We came to learn, to listen, and to contribute,' Bilal said. 'Pakistan is actively studying how global leaders are approaching regulation, innovation, and financial inclusion — not to copy, but to adapt the best ideas for our own unique landscape.'
Pakistan's broader digital asset strategy includes allocating 2,000 megawatts of surplus power to support Bitcoin mining and AI-driven data zones, aiming to turn untapped energy into economic productivity, job creation and digital infrastructure growth.
As regulatory frameworks continue to evolve globally, Pakistan says it is taking proactive steps to integrate private sector innovation with state policy and international partnerships, positioning itself as a key player in the next phase of the global digital economy.
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