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Aftab Maken
ISLAMABAD: The federal government has taken a major step towards regulating digital assets and blockchain technologies in Pakistan, as Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a high-level meeting of the Pakistan Crypto Council (PCC) at the Finance Division on Monday.
The meeting focused on the draft regulatory framework for digital and virtual assets, aiming to align Pakistan’s approach with international standards and rapidly evolving technological developments.
The meeting was attended virtually by Bilal Bin Saqib, Minister of State and Special Assistant to the Prime Minister on Blockchain and Crypto, who also serves as CEO of the Pakistan Crypto Council. The Governor of the State Bank of Pakistan (SBP) also participated remotely, while the Chairman of the Securities and Exchange Commission of Pakistan (SECP), Secretary of the Law and Justice Division, and Secretary of the Ministry of Information Technology & Telecommunication attended in person.
Participants discussed the possibility of establishing an autonomous regulatory authority to oversee the crypto and digital finance ecosystem, reflecting a broader commitment to developing a secure and innovation-friendly regulatory environment in Pakistan.
Council members shared input to ensure that the emerging framework supports responsible blockchain adoption, protects investors, and advances financial inclusion.
Senator Aurangzeb appreciated the contributions of all stakeholders and reaffirmed the government’s resolve to build a future-ready financial infrastructure that fosters innovation without compromising financial stability and compliance.
To carry the process forward, it was agreed to constitute a technical committee comprising representatives from the SBP, SECP, Law Division, and IT & Telecom Division. The committee will review the proposed legislation and governance models, and present its recommendations to the Council at its next meeting.
