In a significant move towards embracing digital currencies, Pakistan’s government has appointed Bilal bin Saqib as the Chief Advisor to the Finance Minister for the Pakistan Crypto Council. This step marks the country’s growing interest in positioning itself as a leader in the evolving cryptocurrency landscape.
The Finance Division, in an official statement, highlighted that Bilal’s appointment reflects Pakistan’s commitment to harnessing the transformative power of digital currencies. The key focus areas will include ensuring financial security, managing risks, and thoroughly evaluating the potential impact of cryptocurrencies on the national economy.
Bilal, in a post on social media platform X, recognised Pakistan’s position as one of the top 10 countries in the world in terms of crypto adoption. He stressed the council’s goal of elevating cryptocurrency to a strategic asset status. He further added, “Our priorities moving forward will be to establish clear, forward-thinking regulatory frameworks and ensure compliance, positioning Pakistan as a leader in the digital financial revolution.”
Bilal also discussed the recent development in the United States, where President Donald Trump signed an executive order establishing a Bitcoin Strategic Reserve. He pointed out that this decision marks a significant moment in the global financial landscape, shifting the way countries perceive value, with digital assets like Bitcoin becoming as important as traditional reserves such as gold and oil.
“This move by the US adds legitimacy to cryptocurrencies as a valuable store of wealth and accelerates institutional interest in the digital economy. It will likely set a trend for other nations to follow, potentially reshaping global finance,” Bilal said.
Last month, Pakistan’s Finance Minister Muhammad Aurangzeb chaired a high-level meeting that included President Trump’s Advisors for Digital Assets. The meeting focused on the international adoption of cryptocurrency and the evolving regulatory frameworks, taking into account US government policies.
The Finance Division’s statement from that meeting emphasised the need for a well-regulated digital asset framework in Pakistan. This aligns with international best practices and the guidelines set by the Financial Action Task Force (FATF). The meeting also acknowledged the interest of both domestic and foreign investors, many of whom have already developed digital asset solutions that could be tested within a regulatory sandbox.
Read next: Is 12th gen Toyota Corolla finally coming to Pakistan in 2025?
