WEBDESK: In a move aimed at strengthening Pakistan’s digital and financial technology sector, Bilal Bin Saqib has been appointed as the Special Assistant to Prime Minister Shehbaz Sharif on blockchain and cryptocurrency, with the status of minister of state. The announcement marks a significant shift toward embracing modern technology and regulating digital assets in the country.
On February 25, the finance ministry had announced it was considering “establishing a National Crypto Council” to adopt emerging digital currencies in line with global trends. It later appointed Saqib as chief executive officer of the PCC.
Bilal Bin Saqib will now be responsible for developing a comprehensive, FATF-compliant regulatory framework for digital assets, launching Bitcoin mining initiatives, and overseeing blockchain integration in governance, finance, and land records.
Additionally, Bilal Bin Saqib will also facilitate “licensing and oversight of virtual asset service providers (VASPs)” and champion “investor protection and Web3 ecosystem growth” in the country.
The government has also hinted at launching Bitcoin mining initiatives under his guidance.
“Just as the United States has brought leaders like David Sacks – appointed by Donald Trump as the White House AI and Crypto Czar – into its digital policy framework, Pakistan is taking a forward-thinking approach by empowering a youth leader to help steer national strategy in emerging technologies,” the statement read.
The press release also stated that the country stood at a “critical digital crossroads” – with it consistently ranking in the top 10 globally for crypto adoption, according to the 2023 Chainalysis Global Crypto Adoption Index.
It noted Pakistan currently had 40 million crypto users and an annual crypto trading volume exceeding $300 billion.
According to Bilal bin Saqib, “Pakistan’s unique demographic and digital landscape offers an unprecedented opportunity to leapfrog into the future of technology—where blockchain and crypto will drive economic growth, innovation, and global competitiveness.”
