Pakistan Appoints Crypto Council CEO as Special Assistant to Prime Minister

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, holds 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 has appointed former Binance CEO Changpeng “CZ” Zhao as an adviser. Saqib's appointment as a special assistant to the prime minister will involve 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 World Liberty Financial, backed by Donald Trump, 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 aligns with rules laid out by the FATF. The Federal Investigation Agency (FIA) Director Sumera Azam described the framework as a “paradigm shift in how Pakistan views digital finance,” emphasizing the balance between technological advancement and national security imperatives.

Saqib's leadership is expected to drive Pakistan's digital transformation, leveraging its unique demographic and digital landscape to become a global leader in blockchain and cryptocurrency technology. His role will involve facilitating the licensing and oversight of virtual asset service providers (VASPs) and championing investor protection and the growth of the Web3 ecosystem in Pakistan. Saqib's appointment reflects Pakistan's commitment to aligning with global trends in digital technology, positioning the country well to leverage blockchain and cryptocurrency for economic growth and innovation.