According to Cointelegraph, Pakistan is taking significant steps to establish a legal framework for cryptocurrency, aiming to attract international investors to the Central Asian nation. Bilal Bin Saqib, CEO of the Pakistan Crypto Council, emphasized the country's commitment to regulatory clarity and pro-business policies during an interview with Bloomberg on March 20. Saqib expressed Pakistan's ambition to become a leader in blockchain-powered finance and highlighted the country's youthful demographic, with 60% of the population under 30, as a potential asset in building a Web3-native workforce.
Earlier this month, Saqib was appointed as the chief adviser to Pakistan’s finance minister for cryptocurrency management. His appointment comes as Pakistan ranks ninth globally for crypto adoption, according to blockchain analytics firm Chainalysis. Saqib estimates that there are up to 20 million crypto users in Pakistan. He also noted U.S. President Donald Trump’s influence on the crypto industry, describing him as "the biggest bullish catalyst for crypto in history." Trump has initiated efforts to create a Bitcoin reserve and crypto stockpile using digital assets forfeited to the government, making crypto a national priority.
Saqib's appointment as CEO of the Pakistan Crypto Council on March 14 by the Finance division of the current Pakistan government marks a pivotal moment for the country's crypto landscape. He stated, "This is just the beginning, Pakistan is open for business." Saqib believes that developing nations like Pakistan and Nigeria stand to gain significantly from blockchain and crypto adoption. By utilizing blockchain technology for remittances and trade, these countries can reduce their dependence on traditional banking systems, lower transaction fees ranging from 5-9%, and establish seamless cross-border payment networks. As global crypto laws evolve in 2025, Pakistan's proactive approach may position it as a key player in the international crypto market.
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