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Pakistan Crypto Council to Discuss Digital Currency Regulations on June 2
Pakistan’s Crypto Council to meet June 2, chaired by FM Aurangzeb, to discuss digital currency regulation and creation of Virtual Assets Authority.
ND
by News Desk
2025-05-30
Pakistan Crypto Council to Discuss Digital Currency Regulations on June 2

Pakistan is set to take a major step toward regulating digital currencies, as the Pakistan Crypto Council (PCC) convenes on June 2 to discuss a national framework for digital assets and blockchain technology, the Ministry of Finance announced on Friday.

The meeting will be chaired by Finance Minister Muhammad Aurangzeb, who will oversee discussions on shaping the legal and regulatory landscape for digital currencies in the country.

Launched in March 2025, the PCC aims to regulate and integrate blockchain technology and digital assets into Pakistan’s financial system. It includes government officials, blockchain experts, and fintech innovators.

“Key items on the agenda include the development of a robust regulatory framework to govern digital and virtual assets in Pakistan, in alignment with global standards and technological advancements,” the finance ministry said in a statement.

🏦 Plans to Launch Pakistan Virtual Assets Regulatory Authority

A central focus of the meeting will be groundwork for the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA) — a proposed independent regulator designed to oversee the country’s emerging digital finance and cryptocurrency ecosystem.

PCC CEO Bilal Bin Saqib will participate in the meeting along with other council members. Saqib has been at the forefront of Pakistan’s push to adopt blockchain-based finance solutions.

The council aims to promote a “secure, transparent, and innovation-friendly regulatory environment” that encourages responsible blockchain adoption while protecting investors and promoting financial inclusion.

“The upcoming meeting underscores the government’s commitment to shaping a future-ready financial infrastructure while ensuring stability and compliance in the emerging digital economy,” the ministry added.

📉 Bitcoin Reserve and Ongoing Ban

Just a day before the PCC meeting announcement, PPP MNA Sharmila Farooqi introduced a bill on digital currency regulation in the National Assembly Standing Committee on Finance.

Finance Secretary Imdadullah Bosal reiterated during the committee meeting that cryptocurrency remains banned in Pakistan but stressed the need for a formal regulatory mechanism.

Despite the ongoing ban, Bilal Bin Saqib unveiled Pakistan’s first government-led Strategic Bitcoin Reserve, including a national bitcoin wallet. Saqib emphasized that these assets are not for trading or speculation but act as a sovereign reserve, signaling confidence in decentralized finance.

🌍 Global Context

Cryptocurrency regulation remains inconsistent across the globe. While countries like El Salvador have adopted Bitcoin as legal tender, others, such as India, China, and Pakistan, maintain strict limitations or bans on its use, though enforcement varies.

Pakistan’s latest initiative reflects a growing recognition of digital finance's potential, despite past regulatory resistance.

 
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PakistanCrypto

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