Bilal bin Saqib, general director of Pakistan’s Crypto Council, proposed the operate of the country’s rafting energy to extract Bitcoin (BTC) at the inaugural meeting of the cryptographic council on March 21.
According to article From the nation, the Council examines comprehensive regulatory frames for cryptocurrencies in order to attract direct foreign investment and establish Pakistan as a cryptocurrency center.
The meeting included legislators, the governor of the Pakistan Bank, chairman of Pakistan Securities and Stock Exchange Committee (SECP) and the Federal Secretary for Information Technology. Senator Muhammad Aurangzeb had this to say about the meeting:
“This is the beginning of a new digital chapter of our economy. We are involved in building a transparent, ready -made financial ecosystem that attracts investments, authorizes our youth and puts Pakistan on a global map as a leader in the field of emerging technology.”
The Cryptocurrency Council represents a radical departure from the government of Pakistan’s previous attitude regarding cryptography. In May 2023, the former Minister of State for Finance and Income Aisha Ghaus Pasha said that Krypto would never be legal in this country.
Pasha quoted restrictions on counteracting money laundering based on the task group for financial activities (FATF) as the main motivation of the government’s anti -thrying attitude.
The presence of Bitcoin miners can stabilize electric nets. Source: Science
Related: Pakistan eyes Crypto legal framework to augment foreign investment
Pakistan follows the United States, embracing crypto
The Pakistan government moved to regulate cryptocurrencies as a legal tender on November 4, 2024 – the same day as elections in the United States.
After the re-election of Donald Trump in the USA and the inauguration on January 20, Trump quickly moved to establish a pro-cleetic policy at a federal level.
On January 23, President Trump signed an executive ordinance establishing a working group in the field of digital assets – an executive advisory council whose purpose is to examine the comprehensive regulatory reform of digital assets.
President Trump signs an executive order establishing the president’s working group in the field of digital assets. Source: White House
The order on January 23 also forbade the government to study, develop or issue the digital currency of the central bank (CBDC).
President Trump also signed an executive order, creating a Bitcoin strategic reserve and separate digital assets in March 2025, which will probably include cryptocurrencies made by companies based in the USA.
Warehouse: How do cryptocurrency regulations change around the world in 2025
