The Ministry of Finance has confirmed that the Pakistan Crypto Council (PCC) will form a technical committee tasked with reviewing and shaping the country’s regulatory framework for digital and virtual assets.
The PCC, officially launched in March, aims to support the integration of blockchain technology and digital assets into Pakistan’s financial system.
According to a press release issued on Monday, the decision was made during a high-level meeting chaired by Finance Minister Muhammad Aurangzeb. Key attendees included PCC CEO Bilal Bin Saqib, the governor of the State Bank of Pakistan (SBP), the chairman of the Securities and Exchange Commission of Pakistan (SECP), and other senior government officials.
Discussions at the meeting centered around a draft framework for regulating digital and virtual assets, with participants emphasizing the need for alignment with global standards and emerging technologies.
The ministry stated that a key point of discussion was the possibility of creating an autonomous regulatory authority dedicated to overseeing the country’s digital finance and cryptocurrency ecosystem.
“It was agreed to constitute a technical committee comprising representatives from SBP, SECP, Law Division, and IT & Telecom Division,” the ministry noted. The committee will evaluate the proposed laws and develop a comprehensive governance structure, which will be presented to the PCC for review at its next session.
Stakeholders in attendance contributed suggestions aimed at fostering a regulatory environment that supports innovation, ensures transparency, and prioritizes investor protection, while also encouraging the responsible adoption of blockchain technologies and promoting broader financial inclusion.
Finance Minister Aurangzeb expressed appreciation for the input shared by all participants and reiterated the government’s commitment to developing a “future-ready financial infrastructure” that balances innovation with financial stability and regulatory safeguards.
In parallel developments last week, the National Assembly’s Standing Committee on Finance reviewed a bill introduced by PPP MNA Sharmila Farooqi concerning digital currency regulation. Finance Secretary Imdadullah Bosal, addressing the session, clarified that a nationwide ban on cryptocurrency remains in place, though he acknowledged the pressing need for regulatory measures.
On the same day, PCC CEO Saqib revealed Pakistan’s first government-led Strategic Bitcoin Reserve, along with the introduction of a national bitcoin wallet. According to him, these digital assets — already under state custody — will not be used for speculation or trading, but instead serve as a sovereign reserve, signaling Pakistan’s long-term commitment to decentralized finance.
Cryptocurrencies continue to gain global traction as practical applications expand. While countries such as El Salvador have granted legal tender status to digital currencies, others like Pakistan, India, and China maintain restrictive stances — prohibiting their use for transactions or ownership, yet stopping short of outright bans.
