The federal government is considering the establishment of a National Crypto Council to oversee the development and regulation of digital assets and blockchain technology in Pakistan. This announcement was made by Federal Minister for Finance and Revenue, Muhammad Aurangzeb, during a high-level meeting on digital assets held on Tuesday.
The proposed National Crypto Council will serve as a dedicated advisory body, bringing together key government officials, regulatory authorities, and industry experts. Its primary objectives will include formulating policies, addressing regulatory challenges, and ensuring the secure and sustainable growth of Pakistan’s digital asset ecosystem. The Council will also collaborate with international partners to develop standardized frameworks for global digital economic engagement.
The Finance Minister directed stakeholders to develop a comprehensive framework that prioritizes security, transparency, regulatory compliance, and economic viability. He emphasized the importance of safeguarding against financial crimes and illicit activities while fostering innovation and investment in the digital asset space. The framework will align with international standards, including guidelines set by the Financial Action Task Force (FATF).
Participants at the meeting discussed the global evolution of cryptocurrency, its growing adoption, and the regulatory measures being implemented worldwide, particularly in the United States. The discussions focused on financial security, risk mitigation, and the potential impact of digital assets on Pakistan’s economy.
Aurangzeb highlighted the government’s commitment to modernizing the financial sector by integrating blockchain technology and exploring digital assets. He stressed the need for a balanced approach that encourages innovation while maintaining strict regulatory oversight.
The meeting also explored the tokenization of key infrastructure and state-owned enterprise (SOE) assets. Tokenization could enhance liquidity, attract broader investor participation, and improve efficiency in capital markets. It was noted that both domestic and foreign investors have already developed product-ready digital asset solutions that could be tested within a regulatory sandbox.
With over 20 million active users in Pakistan’s digital asset market, the Finance Minister acknowledged the challenges faced by users, including high transaction fees. He reaffirmed the government’s commitment to regulating and supporting the industry by introducing appropriate laws, frameworks, and incentives to ensure transparency and promote digital business growth.
The meeting concluded with a consensus on adopting a cautious yet forward-looking approach to digital assets. The government aims to align future developments with national interests, FATF guidelines, and global financial standards. Foreign delegates, including advisors to former U.S. President Donald Trump on digital assets, attended the meeting alongside key Pakistani officials, including Shaza Fatima Khawaja, Minister of State for IT & Telecom, the Governor of the State Bank, and the Secretaries of Finance and IT & Telecom.
