Pakistan is set to formally recognise cryptocurrency as it moves towards legalising digital assets and establishing a regulatory framework aimed at attracting international investment.
Bilal bin Saqib, the newly appointed Chief Advisor to the Finance Minister for the Pakistan Crypto Council, shared the country’s crypto vision in an interview with Bloomberg TV, highlighting the need for clear regulations.
“Pakistan is done sitting on the sidelines, we want to have regulatory clarity. We need to have a legal framework that is pro-business,” Bilal said.
“We want Pakistan as a leader in blockchain-powered finance, and we want to attract international investment because Pakistan is a low-cost, high-growth market with 60% of the population under 30,” he added.
Pakistan has emerged as one of the world’s top adopters of cryptocurrency, with an estimated 15 to 20 million Pakistanis currently holding digital assets.
“Some 15 to 20 million Pakistanis hold crypto today. The country possesses billions of US dollars in crypto transactions, so of course we want to make this legal.
“We want to have a clear regulatory framework so we can bring in investments and we can let the ecosystem flourish in Pakistan,” Bilal stated.
A Forbes-recognized Web3 investor and blockchain strategist, Bilal highlighted Pakistan’s competitive edge in the global crypto market.
“We are working to provide regulatory sandboxes, which will essentially create fast-track systems for crypto startups to operate in a controlled, compliant environment,” he revealed.
He added that Pakistan offers one of the lowest operating costs globally, making it a more cost-effective destination for crypto businesses compared to established hubs like Dubai and Singapore.
The government also plans to engage with the UAE to learn from its regulatory framework and is collaborating with Nigeria and Turkiye.
On taxation, Bilal emphasized a balanced approach to encourage investment.
“The government intends to adopt a ‘balanced pro-growth tax structure’ that attracts more foreign investment in the country,” he said.
He further asserted that cryptocurrency could serve as a major catalyst for Pakistan’s growing fintech sector.
Bilal also weighed in on global crypto trends, describing US President Donald Trump’s return to office as the “biggest, bullish catalyst for crypto in history.”
“Trump is making crypto a national priority and every country including Pakistan will have to follow suit or will we be at the risk of being left behind,” he remarked.
Bilal noted that the US President has been actively reshaping digital asset policies:
“Trump is essentially flipping the script after signing executive orders instructing regulatory bodies to accommodate digital assets, forming the White House Crypto Advisory Team, and creating a US strategic Bitcoin reserve.
“That means that the largest economy in the world is treating it like a valuable national asset, similar to how it stockpiles gold or oil for economic security and strength.”
As Pakistan moves forward with its crypto ambitions, industry observers are closely watching how the country positions itself in the evolving digital finance landscape.
