The Pakistani government has officially established the Pakistan Crypto Council (PCC) to oversee and integrate blockchain technology and digital assets into the nation’s financial system, as announced by the Finance Division.
This development follows the recent appointment of Bilal bin Saqib as Chief Advisor to the Finance Minister for the council. The PCC, a government-supported initiative, aims to regulate, promote, and incorporate blockchain and cryptocurrency innovations into Pakistan’s economic framework.
In a statement, the Finance Division highlighted the council’s formation as a pivotal move in Pakistan’s efforts to embrace digital finance, positioning the country as a significant participant in the global transition toward blockchain technology.
The council will be chaired by Finance Minister Muhammad Aurangzeb, with its initial board comprising the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), the Federal Law Secretary, and the Federal IT Secretary. This diverse leadership structure is designed to ensure a balanced approach to regulatory oversight, financial stability, legal frameworks, and technological advancements.
Speaking at the launch, Aurangzeb emphasized Pakistan’s ambition to become a leader in the digital finance arena.
“The establishment of the Pakistan Crypto Council marks a significant step toward embracing innovation while ensuring the creation of a regulatory framework that safeguards investors and the financial system,” he stated.
He also reiterated the government’s commitment to fostering a responsible and progressive crypto ecosystem to drive economic growth.
Bilal bin Saqib emphasized the council’s broader mission, noting that its focus extends beyond regulation to cultivating an environment where blockchain and digital finance can flourish.
He stressed the council’s objective of positioning Pakistan as a competitive player in the global digital economy, with a strong emphasis on security, transparency, and innovation.
The PCC’s key priorities include developing clear regulatory guidelines to facilitate cryptocurrency adoption, collaborating with international crypto and blockchain organizations to adopt best practices, and promoting responsible innovation.
Additionally, the council will engage with critical industry stakeholders, including fintech startups, investors, and blockchain developers, while prioritizing consumer protection and financial security through robust legal and compliance frameworks.
The launch of the PCC underscores Pakistan’s commitment to leveraging emerging technologies to strengthen its financial system and participate actively in the global digital economy.
