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- Pakistan plans a crypto legal framework to attract investors and boost blockchain adoption in the country.
- The government is pushing for clear crypto rules to support businesses and improve digital finance.
- Pakistan may become the first South Asian nation to legalize cryptocurrency and lead in blockchain finance.
Pakistan plans to introduce a legal framework for cryptocurrency to attract global investors. The country seeks to establish clear regulations and promote blockchain technology. Officials aim to position Pakistan as a leader in digital finance.
Government Pushes for Crypto Regulation
The Pakistan Crypto Council is driving efforts to create a pro-business regulatory environment. Its CEO, Bilal Bin Saqib, is leading discussions on policy formation. The government recently appointed him as chief adviser to the finance minister for cryptocurrency management.
The prime minister has also set up a national crypto council. This body will guide blockchain adoption and digital asset regulation. Authorities want to provide legal certainty for businesses and investors.
Growing Crypto Adoption in Pakistan
Pakistan ranked ninth in global crypto adoption last year, according to Chainalysis. Experts estimate up to 20 million Pakistanis actively use digital assets. The country has a young, tech-savvy population ready to engage in Web3 development.
Officials believe blockchain can improve financial services. They expect lower transaction costs and better cross-border payments. Many developing nations are turning to digital currencies to reduce reliance on traditional banking. Pakistan wants to follow this trend.
Global Trends Influence Policy Shift
International developments are shaping Pakistan’s stance on cryptocurrency. The United States has moved to integrate digital assets into its financial system. Experts believe countries that delay adoption may lose economic opportunities.
By legalizing cryptocurrency, Pakistan would establish itself as the first nation in South Asia to allow digital assets. The regulatory adoption may position Pakistan as a leader over India which maintains a conservative approach. Bhutan engages in Bitcoin mining operations but has not established legal recognition of digital currencies.
Pakistan’s leaders see blockchain as a tool for economic growth. They believe a strong legal framework will attract global investments. Authorities remain focused on creating clear policies for the crypto market.
