Pakistan and Kyrgyzstan boost cooperation in crypto and blockchain technologies

ISLAMABAD: Pakistan and Kyrgyzstan have reached an agreement to strengthen cooperation in the realm of digital currencies and blockchain technologies, reported Radio Pakistan on Saturday.

The agreement was finalized during a high-level video conference between Bilal Bin Saqib, Minister of State for Crypto and Blockchain, and Farkhat Iminov, Kyrgyz Director of the National Investment Agency. Saqib emphasized Kyrgyzstan’s key role in fostering innovation and shaping regulatory frameworks for digital assets.

This development comes as Pakistan accelerates its efforts to establish a robust digital asset regulatory environment, which includes the formation of the Pakistan Virtual Assets Regulatory Authority (PVARA) and the announcement of the country’s Strategic Bitcoin Reserve earlier this year.

In related discussions, Saqib recently met with Robert Bo Hines, the Executive Director of President Trump’s Council on Digital Assets, to discuss global crypto policy coordination and Pakistan’s ambitions to become a regional leader in Web3 innovation.

Earlier this year, the minister had extensive talks in the US with top lawmakers, including Senators Cynthia Lummis, Tim Sheehy, and Rick Scott, as well as New York City Mayor Eric Adams and Bo Hines. This followed a meeting in San Salvador with President Nayib Bukele of El Salvador, where Saqib explored El Salvador's pioneering experience in adopting Bitcoin as legal tender and its relevance to Pakistan’s digital asset plans.