In a landmark move, Pakistan has officially launched the Pakistan Crypto Council (PCC) to develop a regulatory framework for blockchain technology and digital assets. This development positions Pakistan among the growing list of countries moving towards structured crypto regulation, signaling a major step toward digital economic transformation, blockchain adoption, and global tech integration.

A New Era of Digital Regulation

Formed in March 2025, the PCC operates under the Ministry of Finance, working closely with the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), IT Ministry, and Law Division. Its primary mandate is to:

• Develop policies and regulatory frameworks for virtual and digital assets
• Promote blockchain adoption across public and private sectors
• Oversee coordination between regulators and industry stakeholders
• Build trust and security within Pakistan’s emerging digital asset ecosystem

The council is chaired by Finance Minister Muhammad Aurangzeb, with Bilal Bin Saqib serving as CEO and Changpeng Zhao (CZ) as strategic adviser, a sign of serious intent to align Pakistan’s policies with global blockchain ecosystems.

Regulatory Foundations: PVARA & Strategic Committees

Soon after its formation, PCC announced the creation of a Technical Committee. It consists of members from the SBP, SECP, Law, and IT ministries to draft the regulatory framework for virtual assets. In parallel, the government established the Pakistan Virtual Assets Regulatory Authority (PVARA) under a new Virtual Assets Ordinance 2025, tasked with licensing and overseeing crypto service providers.

This two-tier approach policy from PCC and regulatory execution by PVARA mirrors successful models from regions like the UAE and Singapore, setting the foundation for legal clarity and investor confidence.

Economic & Technological Implications

The PCC’s launch has significant economic implications:

• Investment Attraction: A regulated environment is expected to draw foreign blockchain companies, miners, exchanges, and fintech firms to Pakistan.
• Infrastructure Utilization: Pakistan has allocated 2,000 MW of surplus energy for Bitcoin mining and AI data centers. The country is potentially creating a tech-economic cluster.
• Job Creation: From blockchain developers to legal compliance professionals, the council’s work could fuel employment in high-skill digital sectors.
• Global Competitiveness: With a population of over 240 million, Pakistan represents one of the world’s largest untapped crypto and blockchain markets.

Challenges Ahead

While the PCC’s formation is a bold step, challenges remain. The legal status of cryptocurrencies as non-legal tender still requires clear communication. Regulatory delays, energy demands from crypto mining, and the need to align with IMF and FATF guidelines could pose hurdles. Pakistan has a chance to position itself as a regional hub for blockchain innovation and regulation. It can leverage both its young population and growing tech infrastructure.

A Vision for the Future

The launch of PCC represents more than a regulatory milestone; it reflects Pakistan’s strategic shift toward a knowledge-based, digital economy. By bringing together policy makers, global experts, and regulators, the council aims to create a transparent, secure, and innovative ecosystem for blockchain and digital assets. With the right execution, Pakistan can turn regulatory foresight into economic opportunity, attracting capital, creating jobs, and fostering trust in a rapidly evolving digital landscape.

Sources:

• Dawn
• ALJAZEERA
• Arab News