Bilal Bin Saqib, CEO of the Pakistan Crypto Council (PCC), met with U.S. Senators Bill Hagerty and Rick Scott during his recent visit to New York, underscoring Pakistan’s growing engagement in global cryptocurrency discussions and the evolving landscape of digital finance.
The meetings focused on fostering cooperation to develop regulatory frameworks in Pakistan that align with international standards while promoting innovation and financial inclusion.
Senator Hagerty, a key supporter of responsible financial innovation, is the lead sponsor of the GENIUS Act of 2025, which seeks to establish a comprehensive regulatory framework for payment stablecoins in the United States. The bill aims to ensure financial inclusion, require full asset backing for stablecoins, and maintain U.S. leadership in the governance of digital currencies.
Meanwhile, Senator Scott, a strong advocate for civil liberties in the digital age, has co-sponsored the CBDC Anti-Surveillance State Act. This legislation is intended to block the issuance of central bank digital currencies directly to individuals, aiming to safeguard privacy and limit government overreach.
With over $36 billion in annual remittances, Pakistan views stablecoins as a strategic opportunity to reduce transaction costs, enhance financial transparency, and broaden access to financial services for underbanked communities. The GENIUS Act serves as a model for emerging economies like Pakistan that are seeking to incorporate digital assets into their financial systems responsibly.
PCC’s engagement with U.S. lawmakers emphasized the importance of regulatory clarity and its role in guiding Pakistan’s own digital asset policies.
Separately, in a high-level meeting at General Headquarters, PCC CEO Saqib met with Chief of Army Staff Field Marshal Asim Munir to discuss the strategic potential of blockchain, cryptocurrency, and artificial intelligence. The meeting focused on using emerging technologies to empower Pakistan’s youth and drive economic resilience.
Saqib highlighted the demand among Pakistan’s younger population for inclusion in global technological innovation, framing digital finance and decentralization as opportunities rather than risks.
This dialogue coincides with the acceleration of regulatory developments within Pakistan. The Ministry of Finance recently announced the establishment of the Pakistan Digital Assets Authority (PDAA), a new body responsible for overseeing blockchain infrastructure and regulating virtual assets. The move represents a major step in formalizing a crypto market estimated to handle over $300 billion in annual trading volume.
Finance Minister Muhammad Aurangzeb stated that the PDAA would help create a secure, innovative, and inclusive environment for virtual assets, supporting Pakistan’s ambitions to become a regional leader in blockchain and digital finance. The initiative will also enable the tokenization of public assets and government debt, promote regulated Bitcoin mining using surplus electricity, and offer legal certainty to global investors.
The shift toward digital regulation reflects a broader strategy to harness Pakistan’s young demographic and underutilized resources for sustainable economic growth. With over 70% of its population under the age of 30, Pakistan is well-positioned to embrace digital adoption.
The country ranks among the world’s top five in crypto usage and is the third-largest global market for freelancers, adding more than 50,000 IT graduates to the workforce annually.
