Finance Minister Muhammad Aurangzeb has called on the State Bank of Pakistan (SBP) and other regulatory bodies to approach cryptocurrencies with an open mind, emphasizing the need to address the growing prominence of digital assets in informal markets. He made these remarks while speaking at the Pakistan Banking Summit 2025 in Karachi on Monday.

The minister highlighted the increasing global focus on digital assets and artificial intelligence (AI) in emerging markets, stressing their potential to enhance financial inclusion. While acknowledging that cryptocurrency regulation falls under the jurisdiction of the SBP, he urged proactive policymaking to integrate such assets into Pakistan’s economy, ensuring the country stays ahead of regulatory challenges.

Aurangzeb also underscored Pakistan’s progress in digital banking, noting efforts to reduce cash dependency through the adoption of point-of-sale (POS) machines and QR codes. He reaffirmed the coalition government’s commitment to deregulation and privatization, describing these measures as essential for attracting foreign direct investment (FDI) across various sectors.

The finance minister further emphasized the importance of structural economic reforms, particularly in taxation, energy, and the Federal Board of Revenue (FBR). He stated that these reforms are critical to breaking Pakistan’s recurring boom-and-bust economic cycle and achieving sustainable growth.