In a significant step towards the regulation of digital finance, the Pakistan Crypto Council (PCC) has agreed to establish a technical committee that will draft a comprehensive framework for digital and virtual assets in the country, the Ministry of Finance announced on Monday.
Launched earlier in March, the PCC aims to integrate blockchain technology and digital assets into Pakistan’s financial ecosystem through structured regulation and innovation.
Chaired by Finance Minister Muhammad Aurangzeb, the recent high-level meeting was attended by key stakeholders including PCC Chief Executive Officer Bilal Bin Saqib, the Governor of the State Bank of Pakistan (SBP), the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and officials from relevant ministries.
The discussions focused on the development of a regulatory framework that aligns with global standards while accommodating the rapid technological advances in the crypto space. Among the options considered was the formation of an independent regulatory authority to govern the country’s digital finance and crypto sector.
According to the official statement, the newly formed technical committee will include representatives from SBP, SECP, the Law Division, and the IT and Telecom Division. This committee is tasked with evaluating existing draft laws and proposing a robust governance structure that supports responsible innovation and investor protection.
The PCC emphasized the importance of fostering a secure, transparent, and innovation-driven environment to enable safe blockchain adoption and financial inclusion across Pakistan.
Finance Minister Aurangzeb expressed appreciation for the stakeholders’ contributions and reiterated the government’s commitment to building a forward-looking financial infrastructure that promotes innovation without compromising regulatory oversight or financial stability.
This development follows a recent meeting of the National Assembly Standing Committee on Finance, where MNA Sharmila Farooqi introduced a bill seeking regulation of digital currencies. Despite the ongoing nationwide ban on cryptocurrencies, officials acknowledged the growing need for a defined regulatory framework.
Adding to the momentum, PCC CEO Bilal Bin Saqib also revealed Pakistan’s first government-led Strategic Bitcoin Reserve, introducing a national bitcoin wallet aimed at long-term digital asset holding as a sovereign reserve—not for trading, but as a strategic financial signal of belief in decentralized finance.
While countries around the world differ in their stance on cryptocurrencies—with El Salvador adopting it as legal tender and others like India and China maintaining restrictions—Pakistan is now making measured strides toward potential regulatory clarity in this evolving sector.
