The federal government is considering the establishment of a National Crypto Council to oversee digital assets and blockchain technology in Pakistan, Federal Minister for Finance and Revenue Muhammad Aurangzeb announced during a high-level meeting on digital assets on Tuesday.
The proposed National Crypto Council will serve as a dedicated advisory body, comprising key government representatives, regulatory authorities, and industry experts. Its primary role will be to formulate policies, address regulatory challenges, and ensure the development of a secure and compliant digital asset ecosystem in Pakistan. The Council will also work in collaboration with friendly nations to develop standardized frameworks for international digital economic engagement.
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Balanced Regulation for Innovation and Security
During the meeting, the Finance Minister directed relevant stakeholders to design a comprehensive framework that ensures security, transparency, regulatory compliance, and economic viability while mitigating financial crimes and illicit activities. He emphasized the need for a balanced approach that encourages investment and innovation in digital assets while maintaining strict oversight in line with global regulatory standards.
Participants in the discussion analyzed the global evolution of cryptocurrency, its increasing adoption, and the regulatory frameworks being implemented internationally—particularly those aligned with U.S. government policies. Key topics of concern included financial security, risk mitigation, and the potential economic impact of digital assets on Pakistan’s economy.
Aligning Pakistan with Global Standards
Muhammad Aurangzeb underscored the importance of a well-regulated digital asset framework, aligning Pakistan with international best practices and Financial Action Task Force (FATF) guidelines. He reaffirmed the government’s commitment to exploring digital assets and integrating blockchain technology as part of its broader financial sector modernization strategy.
Additionally, discussions included the tokenization of key infrastructure and state-owned enterprises (SOEs) to increase liquidity, attract investor participation, and enhance efficiency in capital markets. It was noted that both foreign and domestic investors have already developed product-ready digital asset solutions that could be explored within a regulatory sandbox.
Supporting Pakistan’s Growing Digital Asset Market
With over 20 million active digital asset users in Pakistan, stakeholders acknowledged the challenges these users face, including high transaction fees. The Finance Minister reiterated the government’s commitment to regulating and encouraging the digital asset industry through appropriate frameworks, legal measures, and incentives to ensure transparency and support digital business growth.
Global Participation in Digital Asset Policy Development
The meeting concluded with a consensus on adopting a cautious yet forward-looking approach to digital asset regulation, ensuring compliance with national interests, FATF guidelines, and global financial standards.
Notably, foreign delegates, including President Trump’s Advisors for Digital Assets, attended the meeting alongside Shaza Fatima Khawaja (Minister of State for IT & Telecom), the Governor of the State Bank of Pakistan, the Secretary of Finance, and the Secretary of IT & Telecom.
This development marks a significant step toward Pakistan’s digital transformation, positioning the country as a potential leader in blockchain technology and digital finance within the region.
