In a major policy shift, Pakistan has announced plans to establish a National Crypto Council, a specialized advisory body tasked with developing legislation for the country’s digital asset sector. The decision follows a recent meeting between Pakistani officials and digital asset advisors from U.S. President Donald Trump’s administration, signaling a shift towards regulated cryptocurrency adoption.
According to Pakistan’s finance ministry, the newly proposed council will include government representatives, regulatory authorities, and industry experts. Its primary role will be to oversee crypto policy development, collaborate with international counterparts, and establish standardized frameworks for digital assets. This move is expected to bring regulatory clarity, attract investment, and position Pakistan as an emerging player in the global crypto economy.
A Notable Policy Reversal
This move marks a notable reversal in Pakistan’s stance on cryptocurrency regulation. Until last year, the nation’s finance ministry was opposed to regulating cryptocurrencies. However, Pakistan’s decision to form a National Crypto Council comes as officials recognize the global evolution of cryptocurrency and the need for a structured regulatory framework. During discussions, policymakers emphasized financial security, risk mitigation, and the potential economic impact of digital assets, aligning with U.S. government policies and international regulatory trends.
Finance Minister Muhammad Aurangzeb stressed the importance of a well-regulated digital asset framework, ensuring compliance with Financial Action Task Force (FATF) guidelines and adopting global best practices. He reaffirmed the government’s commitment to leveraging blockchain technology to modernize Pakistan’s financial sector, signaling a shift from its previous stance on crypto regulation.
A key topic of discussion was the tokenization of state-owned enterprises (SOEs) and major infrastructure assets, which could enhance liquidity, attract broader investor participation, and increase efficiency in capital markets. Officials also acknowledged that both foreign and domestic investors have already developed product-ready digital asset solutions, which could be tested in a regulatory sandbox before full implementation.
Global Trends in Cryptocurrency Regulation
Pakistan’s initiative aligns with a broader global trend of countries establishing dedicated bodies to regulate and oversee the rapidly evolving cryptocurrency landscape. For instance, Japan established the Japanese Virtual Currency Exchange Association (JVCEA) in 2020, mandating all crypto exchanges to be members and comply with standardized regulations. Similarly, Australia, the UK, Brazil, and South Korea have announced plans to release new cryptocurrency regulations this year, reflecting a global shift towards structured oversight of digital assets.
A well-regulated cryptocurrency framework is expected to provide clarity for businesses and consumers, mitigate risks associated with digital assets, and position Pakistan as a competitive player in the international crypto market.
Quick Facts:
- National Crypto Council: A new advisory body to oversee digital asset policy and regulation.
- Policy Shift: Pakistan transitions from opposing to actively regulating cryptocurrencies.
- Global Alignment: Pakistan joins countries like Japan and Australia in establishing dedicated crypto regulatory frameworks.
- Economic Impact: Aims to attract investment and integrate Pakistan into the global digital economy.
