Pakistan has taken a major step toward digital finance by launching the Pakistan Crypto Council (PCC) to regulate and integrate blockchain and cryptocurrency into its financial system. This initiative, led by Finance Minister Muhammad Aurangzeb, aims to establish a structured framework for digital assets while ensuring financial security and innovation.
Government’s Vision for Digital Finance
The Finance Division announced that the PCC will play a crucial role in shaping Pakistan’s approach to cryptocurrency and blockchain technology. The council’s creation aligns with the country’s broader strategy to modernize its financial sector and keep pace with global advancements.
Finance Minister Aurangzeb emphasized that Pakistan must embrace innovation while maintaining regulatory safeguards. “The Pakistan Crypto Council is a step toward adopting digital finance responsibly, ensuring protection for investors and the financial system,” he stated.
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Leadership and Regulatory Oversight
The PCC is structured with a leadership team that ensures financial, legal, and technological expertise. The council’s board includes:
- The Governor of the State Bank of Pakistan
- The Chairman of the Securities and Exchange Commission of Pakistan (SECP)
- The Federal Law Secretary
- The Federal IT Secretary
This diverse leadership will ensure balanced oversight, covering aspects such as financial stability, legal frameworks, and technological advancements.
Bilal bin Saqib’s Role in the Initiative
Bilal bin Saqib, recently appointed as Chief Advisor to the Finance Minister, will play a key role in the council’s operations. He stated that the PCC’s goal is not just regulation but also fostering an environment where blockchain and digital finance can thrive.
“Our focus is on making Pakistan a competitive player in the global digital economy while ensuring security, transparency, and innovation,” he said.
Key Objectives of the Crypto Council
The PCC has outlined several priorities to drive Pakistan’s digital finance transformation:
- Establishing clear regulations to facilitate cryptocurrency adoption while preventing financial crimes.
- Engaging with international blockchain organizations to implement global best practices.
- Supporting fintech startups and investors by providing regulatory clarity and growth opportunities.
- Ensuring consumer protection through strict compliance and legal frameworks.
The council will work closely with industry stakeholders, including blockchain developers and financial institutions, to create a secure and sustainable crypto ecosystem.
A Step Toward a Digital Future
With the launch of the Pakistan Crypto Council, the country is positioning itself as a forward-thinking player in the global digital finance space. The move signals Pakistan’s commitment to embracing blockchain technology while ensuring financial security and regulatory stability.
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