The Pakistan Crypto Council (PCC) will hold a high-level meeting on Monday, June 2, 2025, to deliberate on the evolving regulatory and legal framework for digital and virtual assets in the country. The meeting will also explore the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA)—a proposed autonomous body to oversee digital finance and the crypto ecosystem.
A statement from the Ministry of Finance on Friday said the meeting will be chaired by Finance Minister Muhammad Aurangzeb. Bilal Bin Saqib, the newly appointed Special Assistant to the Prime Minister on Blockchain and Crypto, will attend in his capacity as PCC’s Chief Executive Officer.
The agenda includes drafting a comprehensive framework to govern the use, trading, and regulation of digital assets in Pakistan. The government aims to promote technological innovation while ensuring investor protection and compliance with global standards.
Senior officials from the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Ministry of IT & Telecommunication, and the Law & Justice Division are also scheduled to attend the session.
The upcoming meeting signals the government’s cautious shift toward a structured approach to digital finance. However, cryptocurrency remains illegal in Pakistan. In a briefing to the National Assembly’s Standing Committee on Finance on Thursday, both the SBP and Finance Ministry confirmed that crypto trading is currently banned and that digital currencies are not recognised as legal tender.
SBP officials noted that banks were barred from handling crypto transactions through a 2018 directive and reiterated that the central bank has shared its recommendations with the PCC regarding a potential regulatory path forward.
The PCC, launched to promote responsible blockchain adoption in Pakistan, said it hopes to create a secure, transparent, and innovation-driven ecosystem that enhances financial inclusion while balancing regulatory oversight.
