The Finance Division announced on Tuesday that the government is considering establishing a National Crypto Council to regulate and guide the development of Pakistan’s digital asset ecosystem. The move aims to ensure compliance with global financial standards while fostering sustainable growth in the sector.
The decision follows a high-level meeting on digital assets chaired by Finance Minister Muhammad Aurangzeb. The proposed council would serve as an advisory body comprising government officials, regulatory authorities, and industry experts. Its primary responsibilities would include shaping policies, addressing regulatory concerns, and collaborating with international partners to establish standardised frameworks for digital economic engagement.
The meeting was attended by foreign delegates, including advisors on digital assets from the U.S. government, as well as Minister of State for IT & Telecom Shaza Fatima Khawaja, the Governor of the State Bank, and secretaries from the Finance and IT ministries. Participants discussed global cryptocurrency trends, international regulatory frameworks, financial security risks, and the potential economic impact of digital assets on Pakistan.
Aurangzeb emphasised the importance of a structured and well-regulated digital asset framework, aligning Pakistan with international best practices and Financial Action Task Force (FATF) guidelines. He highlighted the government’s commitment to blockchain technology and the possibility of tokenising key infrastructure and state-owned enterprise (SOE) assets to enhance liquidity and investor participation in capital markets.
The Finance Division noted that Pakistan has over 20 million active users in the digital asset market, many of whom face high transaction fees and regulatory uncertainty.
To address these issues, Aurangzeb directed stakeholders to draft a comprehensive framework ensuring security, transparency, compliance, and economic viability while mitigating risks related to financial crimes.
The meeting concluded with a consensus on adopting a cautious but progressive approach toward digital assets. The government aims to balance innovation and investment in the sector while maintaining strict oversight to align with FATF and global financial regulations.
