Bilateral Talks on Digital Assets Held in Washington

Bilal Bin Saqib, Pakistan’s Minister of State for Crypto and Blockchain, met with Robert “Bo” Hines, executive director of Trump’s Council on Digital Assets. According to a report by 24NewsHD, the two discussed broad collaboration across Bitcoin, decentralized finance, and cross-border innovation.

Following the meeting, Saqib emphasized:

“It is my mission to position Pakistan as a global leader in digital assets. We’re establishing a Bitcoin reserve and building infrastructure for AI data zones and crypto mining.”

The Trump administration, through Hines and Council Chair David Sacks, has previously expressed strong interest in ensuring the U.S. leads globally in digital asset innovation.

Pakistan Eyes Bitcoin Mining With 2,000 Megawatts of Surplus Power

Beyond creating a reserve, Pakistan is also aiming to convert 2,000 megawatts of surplus electricity into Bitcoin mining and AI-focused infrastructure. The plan is designed to turn underused national resources into digital productivity while boosting employment and modernization.

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The country is also building a regulatory framework. On May 21, Pakistan’s Finance Ministry approved the creation of the Pakistan Digital Assets Authority (PDAA), a new body set to regulate exchanges, custodians, wallets, stablecoins, and DeFi protocols.

IMF Flags Concerns Over Energy Use Amid Economic Strains

However, not everyone is convinced. On May 31, the International Monetary Fund (IMF) raised concerns about the legality and viability of allocating so much energy to crypto mining during an ongoing financial assistance negotiation.

The IMF asked Pakistan’s Finance Ministry to clarify the legal grounds and energy impact of the initiative, especially as the nation battles chronic power shortages and economic instability.

Whether Pakistan can strike a balance between digital innovation and fiscal responsibility remains a critical question in the coming months.

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Pakistan’s Crypto Vision

According to Bilal Bin Saqib, Pakistan has a Web3-ready workforce, with 60% of its population under 30. “We aim to establish ourselves in global finance through blockchain and crypto technologies,” he said.

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Recently appointed as Pakistan’s crypto advisory head for the Finance Ministry, Saqib highlighted that Pakistan ranks ninth globally in crypto adoption, with nearly 20 million users, according to Chainalysis data.

Saqib referred to former U.S. President Donald Trump as “the biggest bullish catalyst in crypto history.” He emphasized Trump’s plan to build Bitcoin reserves, urging nations to prioritize crypto to stay competitive.

A Stronger Economy Through Blockchain

Saqib noted that blockchain technology presents massive opportunities for developing nations like Pakistan and Nigeria. By leveraging blockchain for remittances and trade, these countries can cut transfer fees (5-9%) and enhance cross-border payment systems with faster, low-cost solutions.

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