PANews reported on March 20 that according to Bloomberg, Pakistan Crypto Council CEO Bilal bin Saqib said in an interview that the country aims to develop a clear regulatory framework to manage digital asset activities to promote the development of the local ecosystem. Saqib said: "Pakistan is no longer standing idly by. We hope to attract international investment because Pakistan is a low-cost, high-growth market with 60% of the population under 30 years old. We have a local workforce ready to build Web3." Saqib pointed out that he hopes to make Pakistan the cryptocurrency capital of South Asia and compete with Dubai, Singapore and Hong Kong, China for leadership in the blockchain field.
The legalization plan follows Saqib's appointment as chief advisor to the finance minister on digital asset management earlier this month. He will also advise on exploring the use of artificial intelligence to improve government efficiency, optimize decision-making processes, and drive innovation in public sector operations. "Trump is making cryptocurrency a national priority, and every country, including Pakistan, will have to follow suit," Saqib said.
According to Chainalysis, Pakistan ranks ninth in the world in terms of cryptocurrency adoption. Saqib mentioned in the interview that there are about 15 million to 20 million cryptocurrency users in Pakistan.
