Bilal Bin Saqib, CEO of Pakistan’s Crypto Council, proposed to use the energy of the country’s runoff to feed Bitcoin (BTC) in the inaugural meeting of Crypto Council on March 21.
According to a article From the nation, the Council explores complete regulatory executives for cryptocurrencies to attract foreign direct investments and establish Pakistan as an crypto center.
The meeting included the legislators, the governor of the Bank of Pakistan, the president of the Securities and Exchange Commission of Pakistan and the federal secretary on information technologies. Senator Muhammad Aurangzeb had this to say in the meeting:
“This is the beginning of a new digital chapter for our economy. We undertake to build a transparent and ready financial ecosystem for the future which attracts investments, empowers our young people and puts Pakistan on the world map as a leader in emerging technologies. ”
The cryptography council represents a radical difference in the previous position of the Pakistan government on the crypto. In May 2023, the former Minister of State for Finance and Income, Aisha Ghaus Pacha, said that the crypto would never be legal in the country.
Pasha cited anti-whiteness restrictions as part of the Financial Action Working Group (GADA) as the main motivation for the government’s anti-scriptwriting position.
The presence of bitcoin minors can stabilize electrical networks. Source: Direct science
In relation: Pakistan Eyes Crypto Legal Framework to stimulate foreign investments
Pakistan follows the United States by kissing crypto
The Government of Pakistan has moved to regulate cryptocurrencies as legal on November 4, 2024-the same day as elections in the United States.
After the re-election of Donald Trump in the United States and the inauguration of January 20, Trump quickly moved to establish pro-Crypto policies at the federal level.
On January 23, President Trump signed a decree establishing the working group on digital assets – an executive advisory council responsible for exploring a complete regulatory reform of digital assets.
President Trump signs an executive decree establishing the president’s working group on digital assets. Source: The White House
The ordinance of January 23 also prohibited the government from seeking, developing or issuing a digital currency of the Central Bank (CBDC).
President Trump also signed an executive decree creating a Bitcoin strategic reserve and a distinct digital stock of digital assets in March 2025 which will likely include cryptocurrencies manufactured by American companies.
Review: How the laws on cryptography change around the world in 2025
