ISLAMABAD: Pakistan’s Chief Crypto Advisor, Bilal bin Saqib, has emphasized that the country’s position as one of the top 10 global leaders in cryptocurrency adoption will be leveraged to recognize crypto as a strategic asset. In his statement, Saqib highlighted the Pakistan Crypto Council’s commitment to advancing crypto’s role in the national economy.
The government took a significant step on Wednesday by appointing Bilal bin Saqib as the Chief Advisor to the Finance Minister for the Pakistan Crypto Council. This move marks Pakistan’s commitment to embracing the potential of digital currencies while ensuring financial security, mitigating risks, and assessing the impact of cryptocurrencies on the nation’s economy, according to the Finance Division.
In a social media post on Friday, Bilal stated that the council recognizes Pakistan’s strong position globally and that the country will prioritize positioning crypto as a strategic asset. He further outlined the development of comprehensive regulatory frameworks to ensure compliance and solidify Pakistan’s place at the forefront of the digital financial revolution.
Bilal also referred to a significant move in the United States, where President Donald Trump signed an executive order to establish a strategic Bitcoin reserve just a day before meeting with cryptocurrency executives at the White House. Bilal praised this historic decision, noting that it signals a shift in global perceptions of value, expanding beyond traditional assets like gold and oil to include digital currencies.
“The US just made a historic Bitcoin move. The decision to establish a Bitcoin Strategic Reserve marks a pivotal moment for the global economy,” he commented, adding that the US’s recognition of Bitcoin as “digital gold” would bolster its legitimacy, accelerate institutional adoption, and reshape global finance.
Last month, Pakistan’s Finance Minister Muhammad Aurangzeb chaired a meeting with key advisors on digital assets, including representatives from the US. Discussions focused on global crypto evolution, increasing adoption, and international regulatory frameworks. A key part of the meeting was ensuring alignment with the Financial Action Task Force (FATF) guidelines and the development of a robust regulatory framework for digital assets in Pakistan.
Currently, over 20 million Pakistanis are active in the digital asset market, facing significant challenges like high transaction fees, as noted by the Finance Division.
