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Express Tribune
2 days ago
- Business
- Express Tribune
Pakistan, US explore ways for digital asset innovation
Minister of State for Crypto, Blockchain and CEO of the Pakistan Crypto Council Bilal Bin Saqib Listen to article Minister of State for Crypto and Blockchain and Pakistan Crypto Council CEO Bilal Bin Saqib has met with US President Donald Trump's Council of Advisers on Digital Assets Executive Director Robert Bo Hines at the White House and discussed strategic alignment of digital assets, bitcoin integration and the future of decentralised infrastructure. During the meeting, both sides expressed shared interest in fostering collaboration between the US and Pakistan on digital asset innovation, regulatory coherence and emerging financial technologies, said a press release issued by the Ministry of Finance on Wednesday. They also deliberated on ways to support innovation ecosystems that empower youth and accelerate economic inclusion through blockchain. Bo Hines leads the national policy development on digital asset innovation, regulation and emerging financial technologies. The meeting comes following Pakistan's announcement of creating the Strategic Bitcoin Reserve at the Bitcoin 2025 Conference in Las Vegas, which positions the country as one of the first in Asia to incorporate bitcoin into its sovereign asset strategy. "I envision Pakistan to be a leader in the Global South for digital assets," Bilal Bin Saqib remarked. "From launching our Strategic Bitcoin Reserve to unlocking national infrastructure for crypto mining and AI data zones, Pakistan is building a real framework for digital asset adoption and economic modernisation." The minister of state also visited the White House counsel office. Pakistan's broader strategy includes allocating 2,000 megawatts of electricity for bitcoin mining and artificial intelligence-driven data zones with the aim of converting surplus energy into economic growth, job creation and digital infrastructure. As the global regulatory landscape evolves, Pakistan is taking clear, decisive steps to lead from the front, merging state policy, private innovation and international engagement to shape the next chapter of the global digital asset economy.
Yahoo
16-04-2025
- Business
- Yahoo
Trump administration says tariff revenue could be used to buy Bitcoin
Bo Hines, Executive Director of the President's Council of Advisers on Digital Assets of the White House stated that the administration is pursuing inventive avenues to obtain more Bitcoin, including tariff revenue and revalued gold reserves. In a conversation with crypto investor Anthony Pompliano, Hines said, "Everything's on the table" as the U.S. seeks to expand its Bitcoin position. According to Hines, one of the most discussed proposals is Senator Cynthia Lummis' Bitcoin Reserve Act of 2025, that the U.S. Treasury gold certificates, currently valued at $43 an ounce, be revalued to market price—currently sitting at $3,223.61 per ounce. The revaluation could provide a significant amount of money to buy Bitcoin for the nation's reserves without taking on any new debt, said Hines. "But here what you would do is you'd revalue the gold certificates that we currently have at Treasury, most of which are valued, I think, around like $43 an ounce, which is a lot lower than what it's we're at, so now we're sitting at what $3,100 an ounce, being the price of gold. If you took that value, you could use that extra funding to buy Bitcoin, which can be used for the reserve, but that's just one idea.' The interview took place in the White House, where Hines shared some particularly interesting ideas about Bitcoin and also indicated the plan for the Strategic Bitcoin Reserve. Hines also a, "We're looking at many creative ways, whether it be from tariffs or something else. I mean, there are countless ways in which you can do this." Sign in to access your portfolio
Yahoo
08-04-2025
- Business
- Yahoo
Trump crypto chief says we are in the 'golden age' for digital assets, 'clearing the deck' of Biden barriers
EXCLUSIVE: President Donald Trump wants to make the U.S. the "crypto capital of the world," and a top White House cryptocurrency policy official said that the administration is well on its way to ushering in "the golden age for digital assets." Bo Hines, executive director of the President's Council of Advisers on Digital Assets, sat for an exclusive interview with Fox News Digital this week to outline the Trump administration's work thus far in the cryptocurrency space. Cryptocurrency, or "crypto" for short, is a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography that enables secure online payments for individuals or businesses. Mr. Wonderful Talks 'Excitement' Around Cryptocurrency Under Trump: America Is In A 'New Phase' "The president has made this a priority, and it is a testament to his leadership and his knowledge in the space," Hines explained. "Unlike any president before him, he has truly embraced this technological development in a way that no one else has, which has allowed us to do what we need to do to make the United States the crypto capital of the world." Hines told Fox News Digital that officials have focused on "clearing the deck" and ensuring that "what was happening under the Biden regulatory regime has been rescinded and repealed." Read On The Fox News App Under the Biden administration, Hines said Americans using cryptocurrency went "offshore due to the nature of attacks they specifically received under the Biden regime." "We will start seeing a lot of those players come back to the United States in short order because, look, we are the greatest country in the world. People want to innovate here. People want to build here. And this space is no different," he said. "At the end of the day, the largest players to the smallest players want to be operating in the United States—they just need a clear set of rules to abide by to do so." Hines said that under the Biden administration, "rather than welcoming in innovation and encouraging technological developments, they went after these people." "We've been in the demolition phase—removing a lot of those barriers that the Biden regime put up so that people can actually start building back here in the United States." "My main message to players in the crypto space has been—welcome home," Hines said. "We are going to create the most pro-crypto-friendly regulatory environment that anyone could possibly imagine because we understand how important the innovation is here in this space." Trump's Crypto Czar Decries Government's Lack Of Bitcoin 'Long-term Strategy' Hines explained that during the first week of the second Trump administration, the president set up the interagency working group—the President's Council of Advisers on Digital Assets—which includes officials from the Treasury Department, the SEC, CFTC, Attorney General Pam Bondi, and more. Trump's executive order directed the working group to explore several digital asset-related issues, including looking into the "potential creation and maintenance of a national digital asset stockpile" and proposing "criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts." "With this group and other White House offices, we are working on delivering on the president's promise to clear the deck and have all of these burdens and regulations lifted," Hines said. The group is currently in the process of compiling recommendations and building a comprehensive report they will deliver to the president later this year. The report is designed to explain the "clearest regulatory environment possible" in the space, and recommendations for how the U.S. maintains its role as "the dominant leader in the space across the globe." As for legislation, Hines pointed to the Stablecoin Transparency and Accountability for a Better Ledger Economy, or the STABLE Act. That legislation, which passed out of the House Financial Services Committee on a bipartisan vote, establishes framework for the issuance and operation of dollar-denominated payment stablecoins in the U.S. "I think the Stable Coin legislation could be the first really, truly large and meaningful piece of legislation that the president signs in the first year of a second term," Hines said, noting it would "truly revolutionize the financial system for years to come." "I think that Americans will see that once this legislation is through—once this regulatory framework is established—the way in which they move their money will be changed forever," Hines said. "You will see that Americans will have better access to quicker payments and better access to transparency."Original article source: Trump crypto chief says we are in the 'golden age' for digital assets, 'clearing the deck' of Biden barriers
Yahoo
26-03-2025
- Business
- Yahoo
White House Says Gold Reserves May Be Used to Purchase Bitcoin
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A senior White House official has hinted at the possibility of the U.S. utilizing its gold reserves to acquire more Bitcoin (CRYPTO: BTC). What Happened: Bo Hines, the executive director of the President's Council of Advisers on Digital Assets, suggested in an interview that the U.S. could capitalize on the gains from its gold holdings to purchase more Bitcoin. This move, according to Hines, could be a budget-neutral way to increase the country's Bitcoin reserves. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share! Hasbro, MGM, and Skechers Trust This AI Marketing Firm — Invest Pre-IPO from $0.55 per share. Hines referenced the Bitcoin Act of 2025, proposed by Sen. Cynthia Lummis (R-Wyo.), which advocates for the US to acquire 1 million Bitcoin, approximately 5% of the total Bitcoin supply, over a span of five years. This acquisition would be funded through the sale of Federal Reserve gold certificates."If we actually realize the gains on the U.S. gold holdings, that would be a budget-neutral way to acquire more bitcoin," Hines said adding that there's been "countless ideas" and the 'best ideas" will be enacted by President Donald Trump, in a pre-recorded message, expressed his commitment to making the US the leading Bitcoin superpower and the global hub for cryptocurrency. "It's high time that our president started accumulating assets for the American people, which is what president Trump is doing rather than taking it away," Hines added. Despite recent market stagnation due to macroeconomic factors, Trump's pledge has instilled confidence in the market. Why It Matters: The potential use of US gold reserves to purchase Bitcoin signifies a major shift in the country's approach to digital assets. The Bitcoin Act of 2025, if passed, could significantly increase the US's stake in the global Bitcoin market. This move, coupled with President Trump's commitment to crypto, could position the US as a leading player in the global crypto market, potentially influencing Bitcoin's price and market dynamics. Read Next: This platform is reshaping how you invest in private companies — and you can be a part of it for $0.18 per share. It's no wonder Jeff Bezos holds over $250 million in art — this alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. Here's how everyday investors are getting started. Image: Shutterstock This article White House Says Gold Reserves May Be Used to Purchase Bitcoin originally appeared on Sign in to access your portfolio
Yahoo
22-03-2025
- Business
- Yahoo
U.S. may sell Fort Knox gold for Bitcoin — If it's 'budget-neutral,' says Trump adviser
Robert 'Bo' Hines, executive director of the President's Council of Advisers on Digital Assets, said that if the move to sell some of the gold in Fort Knox to buy Bitcoin remained budget-neutral, it could be considered. Hines made the remark while speaking to journalists Eleanor Terrett and Jacquelyn Melinek in an interview on March 21. Note that President Trump signed an Executive Order on March 6 to establish a Strategic Bitcoin Reserve consisting of BTC forfeited by federal agencies. The order also mentioned that the government will acquire any Bitcoin in the future through 'budget-neutral' ways. During the interview, Terrett asked Hines if he could give an example of a budget-neutral way to buy Bitcoin. In response, Hines referred to Senator Cynthia Lummis's (R-WY) BITCOIN bill. Senator Lummis' bill, once legislated, will codify Trump's executive order. The bill, said Hines, details how the government could re-evaluate the true value of certain gold certificates. If the government recognized its gains after the re-evaluation, it could use the additional funds to acquire more Bitcoin. 'That would be a budget-neutral way to acquire more Bitcoin,' Hines said. Terrett further asked if the government could "theoretically" sell some of the gold in Fort Knox to purchase Bitcoin. "Well, if it's budget neutral and doesn't cost the taxpayer a dime," Hines said. The Trump administration is open to "new ideas" and "innovative approaches" to crypto, he added. Melinek questioned Hines about the government's choice of the five assets, i.e., Bitcoin, Ethereum, XRP, Solana, and Cardano, for the holdings. Hines said that the government chose these particular assets on the basis of their market capitalization. As per the on-chain analytics platform Arkham, the US government holds 198,109 BTC worth $16.6 billion and 60,850 ETH worth $119 million as of March 21. Sign in to access your portfolio
