Pakistan is taking a major step toward digital finance with the launch of the Pakistan Crypto Council (PCC). Finance Minister Muhammad Aurangzeb emphasized its role in developing a transparent and regulated framework for blockchain and cryptocurrencies.
At the council’s inaugural meeting in Islamabad on Friday, Aurangzeb stated that the PCC would serve as a central platform for regulators and industry stakeholders. Its goal is to ensure a responsible and forward-thinking approach to integrating digital assets into the financial system.
Government’s Commitment to Blockchain
The finance minister reaffirmed the government’s dedication to fostering a future-ready financial ecosystem. He highlighted that a structured approach to crypto regulation would not only attract investment but also empower Pakistan’s youth and position the country as a leader in emerging technologies.
The meeting ended with a consensus on carefully navigating Pakistan’s approach to blockchain and cryptocurrencies. The aim is to strike a balance between economic stability and technological advancement.
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Formation of the Pakistan Crypto Council
Earlier this month, the federal government formally established the PCC to regulate and integrate blockchain technology and digital assets into the country’s financial structure. This move reflects Pakistan’s growing recognition of the potential of cryptocurrency in reshaping its economy.
The council, backed by the government, is designed to promote and oversee blockchain and cryptocurrency innovations. It will work to create a secure and efficient digital finance system, ensuring compliance with global standards while encouraging innovation.
Leadership and Structure
Finance Minister Muhammad Aurangzeb will lead the Pakistan Crypto Council. Key members include:
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Governor of the State Bank of Pakistan
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Chairman of the Securities and Exchange Commission of Pakistan (SECP)
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Federal Law Secretary
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Federal IT Secretary
Additionally, Bilal bin Saqib has been appointed as the Chief Advisor to the finance minister for the council. His expertise is expected to contribute to the strategic direction of Pakistan’s crypto policies.
Positioning Pakistan in the Global Crypto Market
A statement from the Finance Division described the formation of the PCC as a milestone in Pakistan’s journey toward digital finance. However it aims to make Pakistan a key player in the global shift toward blockchain technology.
By establishing a clear regulatory framework, the government hopes to create economic opportunities and ensure consumer protection in the growing crypto market. In Conclusion experts believe that Pakistan’s approach to digital assets will play a vital role in shaping its financial landscape for the future.
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