March 16, 2025 – In a significant development for Pakistan’s financial sector, the government has officially launched the Pakistan Crypto Council (PCC) to oversee and regulate the use of digital assets and blockchain technology in the country.
A Shift in Policy
The establishment of the PCC marks a major shift in Pakistan’s stance on cryptocurrency. Previously, in 2018, the State Bank of Pakistan (SBP) imposed a ban on crypto transactions, citing concerns about fraud and financial instability. However, as global adoption of blockchain technology grows, Pakistan has recognized the need for a structured regulatory framework to harness its potential.
Key Members and Leadership
The council is chaired by Finance Minister Muhammad Aurangzeb, with Bilal Bin Saqib, a well-known entrepreneur, serving as the Chief Advisor. Other key members include the Governor of the SBP, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and officials from the Federal IT and Law Ministries. This diverse leadership aims to create balanced policies that promote innovation while ensuring financial security.
Objectives of the Pakistan Crypto Council
The primary goal of the PCC is to formulate policies and regulations that support the responsible adoption of cryptocurrency and blockchain technology. The council will also focus on:
✔️ Developing a legal framework for crypto businesses and investors
✔️ Ensuring consumer protection to prevent fraud and scams
✔️ Encouraging blockchain innovation in various sectors, including banking and remittances
✔️ Collaborating with international organizations to align with global best practices
Impact on Pakistan’s Economy
With millions of Pakistanis engaging in crypto trading and remittances, experts believe that a well-regulated digital finance sector can boost economic growth and attract foreign investment. Moreover, blockchain technology could enhance transparency in government transactions and reduce financial inefficiencies.
While full legalization and integration of cryptocurrency into Pakistan’s economy will take time, the formation of the Pakistan Crypto Council is a step towards embracing the future of digital finance in a structured and secure manner.
