The Pakistan Crypto Council (PCC) was officially launched to ‘regulate and integrate blockchain technology and digital assets’ into the country’s financial system.
According to the Finance Division, the government-backed initiative aims to develop policies, fostering and integrating blockchain and cryptocurrency innovations into Pakistan, and ensure secure crypto adoption.
The announcement follows a February 25 meeting between Finance Minister Muhammad Aurangzeb and a foreign delegation that discussed establishing a National Crypto Council to adopt emerging digital currencies in line with global trends.
Earlier this month, entrepreneur Bilal Bin Saqib was appointed chief adviser to the finance minister on crypto matters.
The Finance Division called his appointment a key step in evaluating the impact of digital currencies on the national economy.
The finance minister will chair the Crypto Council, with Saqib as CEO.
Other board members include the governor of the State Bank of Pakistan (SBP), the chairman of the Securities and Exchange Commission of Pakistan (SECP), and the federal law and IT secretaries.
This diverse leadership aims to balance regulation, financial stability, and technological progress.
Aurangzeb emphasized that Pakistan wants to lead in digital finance. He stated that the Crypto Council will ensure regulatory frameworks that protect investors and the financial system while fostering a progressive crypto ecosystem to boost economic growth.
Saqib stressed that the council’s goal is beyond regulations – it aims to create an environment where blockchain and digital finance can thrive. He added that Pakistan must compete in the global digital economy by ensuring security, transparency, and innovation.
The council’s next steps include setting clear regulatory guidelines, collaborating with international crypto organizations, supporting fintech startups, and ensuring consumer protection through robust legal frameworks.
