Pakistan Appoints Crypto Council CEO as Special Assistant on Blockchain

Pakistan Prime Minister Shehbaz Sharif has appointed Bilal Bin Saqib, the CEO of the Pakistan Crypto Council, as his special assistant on blockchain and cryptocurrency. This appointment, effective immediately, grants Saqib the status of a minister of state and will see him serve without salary or official benefits. The move is part of a series of government initiatives aimed at strengthening Pakistan’s presence in the digital asset space.

Just one day prior to Saqib’s appointment, Pakistan allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers. This allocation underscores the government's commitment to fostering the growth of the crypto industry within the country. Additionally, in mid-May, Pakistan’s Ministry of Finance endorsed the creation of a dedicated body, the Pakistan Digital Assets Authority (PDAA), to regulate the country’s blockchain-based financial infrastructure. The PDAA will oversee licensing, regulate exchanges, custodians, wallets, tokenized platforms, stablecoins, and decentralized finance applications.

Saqib, a graduate of the London School of Economics, received the title of Member of the Most Excellent Order of the British Empire from King Charles III. He currently leads the Pakistan Crypto Council, where he appointed former Binance CEO Changpeng “CZ” Zhao as an adviser. Saqib was also named in the Forbes 30 under 30 list. In his new role, Saqib will be tasked with drafting Financial Action Task Force (FATF)-compliant crypto regulations, launching state-backed Bitcoin (BTC) mining projects, and overseeing blockchain integration in governance, land records, and finance.

Pakistan is actively investing in the crypto industry. In late April, the Donald Trump-backed World Liberty Financial signed a Letter of Intent with the Pakistan Crypto Council to accelerate crypto adoption in the country. Pakistani regulators have proposed a regulatory framework for digital assets that is compliance-focused and in line with rules laid out by the FATF. The framework aims to strike a balance between technological advancement and national security imperatives, reflecting a significant shift in how Pakistan views digital finance.

Saqib’s appointment and the government’s initiatives signal Pakistan’s commitment to embracing digital technology and positioning itself as a leader in the global crypto landscape. By fostering innovation and regulatory compliance, Pakistan aims to drive economic growth and global competitiveness through blockchain and cryptocurrency technologies. This forward-thinking approach positions Pakistan to leverage its unique demographic and digital landscape to advance into the future of technology.