PANews reported on March 16 that according to Cryptoslate, the Pakistani government has established the Pakistan Cryptocurrency Committee (PCC) to oversee the integration and use of blockchain technology and digital assets in the country's financial sector. The PCC's agenda includes developing clear regulatory guidelines for cryptocurrency adoption, working with international cryptocurrency and blockchain organizations, and promoting responsible innovation. The committee will also focus on consumer protection and financial security through a sound legal and compliance framework.
Finance Minister Muhammad Aurangzeb will chair the committee, leading a diverse committee that includes senior officials from key financial and regulatory agencies. The leadership, which includes the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Federal Ministers of Law and Information Technology, aims to ensure a comprehensive approach to regulatory oversight, financial stability, and technological advancement.
Pakistan is currently one of the countries with the highest cryptocurrency adoption rate, with an estimated 20 million active cryptocurrency users and cryptocurrency trading volume exceeding $20 billion.
