In a huge win for Pakistan the cryptocurrency market, Changpeng Zhao (CZ), co -founder and former general director of Binance, the world’s largest cryptography exchange, was appointed as A Strategic advisor to Pakistan Crypto Council (PCC).
Binance co -founder to enhance the innovation of cryptocurrencies
The announcement was issued by the Ministry of Finance on Monday, after Zhao meetings with key PCC members, including the Federal Minister of Finance Muhammad Aurangzeb, which is chaired by the council, and the general director of Bilal Bin Saqib.
According to local media ReportsChangpeng Zhao also conducted talks with the prime minister and deputy prime minister of Pakistan during a visit to Islamabad at the weekend.
PCC, established by the government last month, aims to create regulatory framework regarding cryptocurrency trade, which aims to attract international investments.
Although cryptocurrencies such as Bitcoin (BTC) are not officially regulated in Pakistan, they are also not illegal. From January 16, 2021, State Bank of Pakistan did not authorize any entities to conduct transactions covering virtual currencies, coins, or tokens.
“This is a breakthrough moment for Pakistan; we send a clear message to the world: Pakistan is open to innovations,” said Senator Muhammad Aurangzeb during the announcement.
The senator emphasized that thanks to the former director Binance on board the council aims to accelerate his vision of positioning Pakistan as a regional leader in the field of Web3, finance Digital Finance and Blockchain.
Zhao’s vision for Pakistan
As a strategic Zhao advisor, apparently it will provide key tips on various aspects, including regulation, infrastructure development, education and cryptocurrency acceptance.
His role will require close cooperation with the Pakistani government and the private sector to create a compatible, integration and global competitive Cryptographic ecosystem.
Zhao emphasized Pakistan’s potential in terms of cryptocurrency growth, stating: “Pakistan is a country of 240 million people, of which over 60 percent are less than 30 years old. The potential here is unlimited.”
Despite his recent legal challenges, the rescue resolved as a binance CEO and reached a settlement of $ 4.3 billion with the American authorities regarding the violations of counteracting money laundering-Zhao remains one of the most influential characters in the cryptocurrency industry.
Since January 2025, Forbes estimates its net value at around $ 66.6 billion, which makes him the second richest Canadian and the 24 richest person in the world.
Zhao career in Cryptocurrency It began in 2013 as part of the team that was developed by blockchain.info. Later he was the technology director in OKOIN before launching Binance in July 2017.
In just eight months, Binance has become the world’s largest cryptocurrency exchange according to a trade volume, which is a feat achieved after collecting $ 15 million through the initial offer of coins (ICO).
For now, Binance Coin (BNB) trades on USD 564, registering a 11% drop in price over the past two weeks.
A distinguished painting with Dall-E, chart from tradingview.com
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