WEBDESK: Pakistan is preparing to legalize cryptocurrency as part of its strategy to attract international investment and strengthen its digital economy, said Bilal bin Saqib in an interview with Bloomberg. The government is reportedly working on regulations that will allow controlled and legal crypto transactions while ensuring compliance with financial and security laws.
The decision to legalize Pakistan crypto activities comes as global digital assets gain popularity. The move is expected to encourage foreign direct investment (FDI) and provide new economic opportunities. Officials believe that proper regulation can help Pakistan compete in the evolving digital finance landscape.
In an interview with Bloomberg, Saqib said Pakistan aimed to create “a clear regulatory framework for governing digital-asset activities to boost the local ecosystem”.
“Pakistan is done sitting on the sidelines,” he said, adding that they wanted to attract international investment because the country was a “low-cost high-growth market with 60 per cent of the population under 30.
“We have a Web3 native workforce ready to build,” he said.
However, challenges remain. Authorities must address concerns over money laundering, illegal transactions, and financial stability in legalizing Pakistan crypto. Regulatory bodies are expected to introduce strict guidelines to prevent misuse while fostering innovation in the sector. The legal framework will likely include measures for investor protection, taxation, and transaction monitoring.
Pakistan crypto adoption could also create new job opportunities and boost financial inclusion by allowing more people access to digital financial services. Experts suggest that legalized crypto trading could integrate Pakistan into the global blockchain economy and improve its financial standing.
Despite the potential benefits of Pakistan crypto legalization, some policymakers remain cautious about the risks associated with cryptocurrencies. Past crackdowns on illegal crypto exchanges highlight the need for a well-structured legal framework. The government aims to balance innovation with regulation to ensure a secure and stable digital finance ecosystem.
Read more: Pakistan to boost crypto adoption with strategic initiatives
