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Pakistan Forms Committee to Draft Crypto Regulation Framework
Pakistan moves closer to crypto regulation as PCC forms a technical committee to draft a framework for digital assets. Govt aims to align with global standards.
ND
by News Desk
2025-06-02
Pakistan Forms Committee to Draft Crypto Regulation Framework

The Pakistan Crypto Council (PCC) has agreed to form a technical committee to develop a comprehensive regulatory framework for digital and virtual assets, the Ministry of Finance announced on Monday. The move marks a significant step towards integrating blockchain technology and digital finance into the country’s financial system.

The PCC was officially launched in March 2025 with the objective of regulating and incorporating digital assets and blockchain innovations in Pakistan. Monday’s meeting was chaired by Finance Minister Muhammad Aurangzeb and attended by key stakeholders including PCC CEO Bilal Bin Saqib, the Governor of the State Bank of Pakistan (SBP), the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and senior government officials.

According to a press release from the Ministry of Finance, the meeting centered on a draft regulatory framework aimed at aligning Pakistan’s approach to digital assets with international standards and technological developments. Participants also discussed the possibility of establishing an autonomous regulatory authority to oversee the country’s crypto and digital finance ecosystem.

It was decided that a technical committee will be formed with representatives from the SBP, SECP, Law Division, and IT & Telecom Division. This committee will be tasked with reviewing existing draft laws and proposing a robust regulatory and governance structure, which will then be evaluated by the PCC in the next session.

The press release further highlighted that the council’s input focused on ensuring a secure, transparent, and innovation-friendly environment, while also promoting responsible blockchain adoption, investor protection, and financial inclusion.

Finance Minister Aurangzeb commended the stakeholders’ efforts and reaffirmed the government’s commitment to building a future-ready financial infrastructure that balances innovation with financial stability and regulatory integrity.

This development comes shortly after PPP MNA Sharmila Farooqi introduced a digital currency regulation bill in the National Assembly Standing Committee on Finance. During the session, Finance Secretary Imdadullah Bosal clarified that while cryptocurrency remains banned in Pakistan, regulation is necessary given global trends and domestic interest.

On the same day, PCC CEO Saqib announced Pakistan’s first-ever government-led Strategic Bitcoin Reserve, along with the launch of a national bitcoin wallet. These digital assets, he said, are held in state custody as a sovereign reserve, emphasizing their symbolic value rather than speculative use.

While many countries continue to explore the integration of digital currencies, global regulatory responses remain mixed. Nations like El Salvador have embraced cryptocurrency as legal tender, whereas others — including Pakistan, India, and China — have imposed strict restrictions or maintained legal ambiguity.

As Pakistan takes its initial steps toward formalizing the crypto space, all eyes will be on the PCC’s upcoming proposals and how they shape the future of digital finance in the country.

 
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