According to The Nation, the council aims to develop a comprehensive regulatory framework for cryptocurrencies to attract foreign direct investment (FDI) and position Pakistan as a leading crypto hub.

Support from Government Officials

The meeting brought together key stakeholders, including the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Federal Secretary of Information Technology.

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Senator Muhammad Aurangzeb commented on the initiative:

“This is the beginning of a new digital chapter for our economy. We are committed to building a transparent, future-ready financial ecosystem that attracts investment, empowers our youth, and puts Pakistan on the global map as a leader in emerging technologies.”

Pakistan’s Shift Toward a Pro-Crypto Stance

This move marks a significant departure from Pakistan’s earlier anti-crypto policies.

In May 2023, former Minister of State for Finance and Revenue Aisha Ghaus Pasha stated that crypto would never be legalized in Pakistan, citing Financial Action Task Force (FATF) regulations as the primary obstacle.

Inspired by U.S. Pro-Crypto Policies

Pakistan’s new approach to cryptocurrencies closely follows developments in the United States. On November 4, 2024, coinciding with the U.S. elections, Pakistan’s government legalized cryptocurrencies as a medium of exchange. After Donald Trump’s re-election and his inauguration on January 20, 2025, the Trump administration quickly implemented pro-crypto policies.

On January 23, Trump signed an executive order establishing the Working Group on Digital Assets, which prohibits research into central bank digital currencies (CBDCs). In March 2025, Trump also announced the creation of a Bitcoin Strategic Reserve and a separate digital asset stockpile that will likely include cryptocurrencies developed by U.S.-based firms.

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