ISLAMABAD: Senator Dr. Afnan Ullah Khan was prevented from introducing the Virtual Assets Bill 2025 in the Upper House of Pakistan’s Parliament on Monday.
Law Minister Azam Nazeer Tarar argued that under the Constitution, only the federal government has the authority to propose such legislation. Following these remarks, the Senate’s Deputy Chairman postponed the bill, leaving its future uncertain unless the federal government decides to bring it forward for deliberation in the Senate.
The Virtual Assets Bill 2025 aims to regulate the issuance, use, and trading of virtual assets in Pakistan. It also proposes the introduction of a Digital Rupee backed by the Pakistani Rupee (PKR), the establishment of virtual asset zones to ensure financial stability and investor protection, and a legal framework to recognize the digital rupee as authorized legal tender.
