Pakistan Crypto Council

Last updated

Pakistan Crypto Council
AbbreviationPCC
Formation14 March 2025;5 months ago (2025-03-14)
TypeGovernment-backed initiative
Legal statusActive
PurposeDeveloping regulations and promoting blockchain technology and digital assets
Location
Region served
Pakistan
Official language
Urdu, English
Chairperson
 Muhammad Aurangzeb
CEO
 Bilal Bin Saqib
Adviser
 Changpeng Zhao
Parent organization
 Ministry of Finance, Pakistan
Affiliations

Pakistan Crypto Council (PCC) is a Pakistani regulatory body to oversee and promote blockchain technology and digital assets within Pakistan; as of May 2025, reports indicated that Pakistan had approximately 40 million cryptocurrency users, with an estimated annual crypto trading volume exceeding US$300 billion. [1] The council was established by the government of Pakistan in March 2025. [2] [3] [4]

Contents

History

The plan to set up the PCC was announced on 25 February 2025, led by Finance Minister Muhammad Aurangzeb. The official plans were prepared under his guidance, and the council was formally launched in March 2025.

Leadership and structure

The PCC is led by Federal Finance Minister Muhammad Aurangzeb, who has been appointed as its head. Bilal Bin Saqib serves as the Chief of the council, providing strategic direction to its operations. [5] The immediate governing board of the council includes officials such as the Governor of the State Bank of Pakistan, the Federal Law and IT Secretaries underscoring the institutional backing and collaborative nature of the initiative. [6] [7] [8] On 7 April 2025, PCC appointed Binance co-founder, Zhao as its strategic adviser. [9] [10] On 26 May 2025, Prime Minister Shehbaz Sharif appointed Bilal Bin Saqib, CEO of the PCC, as Special Assistant to the Prime Minister on Blockchain and Cryptocurrency, with the rank of Minister of State. [1]

Leadership

RoleIndividual/Position
ChairFinance Minister Muhammad Aurangzeb
CEO Bilal Bin Saqib
Adviser Changpeng Zhao
Board Member Governor of the State Bank of Pakistan
Board MemberChairman of the SECP
Board MemberFederal Law Secretary
Board MemberFederal IT Secretary

Recent developments

In May 2025, PCC's CEO Bilal Bin Saqib unveiled Pakistan's first government-led Strategic Bitcoin Reserve at the Bitcoin Vegas 2025. [11] In the same month, the government allocated 2,000 megawatts of surplus electricity in first phase for bitcoin mining and AI data centres. [12] These initiatives are aimed at presenting Pakistan as an emerging player in the crypto economy.

Pakistan Virtual Assets Regulatory Authority

The Pakistan Virtual Assets Regulatory Authority (PVARA) was set up in July 2025 to manage and license virtual asset services in the country. It was formed under the Virtual Assets Ordinance, 2025, to make sure rules are followed, support innovation, and keep in line with international and Islamic finance standards.

References

  1. 1 2 Sherani, Tahir (26 May 2025). "Bilal Bin Saqib appointed special assistant to PM on blockchain and crypto". Dawn News . Archived from the original on 27 May 2025.
  2. ↑ "Pakistan Crypto Council officially launched to integrate blockchain technology with financial landscape". Archived from the original on 17 March 2025. Retrieved 17 March 2025.
  3. ↑ "Govt forms crypto council". Archived from the original on 17 March 2025. Retrieved 17 March 2025.
  4. ↑ "Pakistan launches Crypto Council to regulate blockchain, digital assets". Archived from the original on 15 March 2025. Retrieved 17 March 2025.
  5. ↑ "Pakistan Crypto Council officially launched".
  6. ↑ "Pakistan Crypto Council officially launched". Archived from the original on 16 March 2025. Retrieved 17 March 2025.
  7. ↑ "Pakistan launches Crypto Council to regulate blockchain, digital assets".
  8. ↑ Ameer Ali, Salman (27 March 2025). "Pakistan Crypto Council Launch: A New Dawn for Freelancers or Another Bureaucratic Mirage?". Perspective. Retrieved 28 March 2025.
  9. ↑ Abid, Sabahat (7 April 2025). "Binance Founder Appointed Adviser to Pakistan Crypto Council". Markhor Times. Retrieved 7 April 2025.
  10. ↑ Sherani, Tahir (7 April 2025). "Binance founder Zhao appointed as strategic adviser to Pakistan Crypto Council". DAWN.COM. Retrieved 7 April 2025.
  11. ↑ Sherani, Tahir (29 May 2025). "Pakistan unveils first govt-led Strategic Bitcoin Reserve". DAWN.COM. Retrieved 29 May 2025.
  12. ↑ Sherani, Tahir (25 May 2025). "Govt allocates 2,000MW for Bitcoin mining and AI data centres". DAWN.COM. Retrieved 29 May 2025.
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