Pakistan Explores Blockchain for Remittance Simplification

According to Foresight News, Pakistan's Finance Minister and Chief Advisor of the newly established Pakistan Cryptocurrency Committee (PCC), Bilal bin Saqib, has highlighted the country's position as one of the largest recipients of remittances from overseas citizens. In an interview, he stated that Pakistan is exploring blockchain technology to streamline the remittance process. The PCC is advocating for a clear regulatory framework for blockchain and Web3 innovations. Additionally, the committee is examining initiatives such as tokenizing real-world assets while adhering to the Financial Action Task Force (FATF) standards.