Pakistan Launches Crypto Council to Attract 60% of Population Under 30

Pakistan is making substantial strides to position itself as a pioneer in blockchain finance by introducing new cryptocurrency regulations. The country's goal is to develop a comprehensive regulatory framework for managing digital assets, which is anticipated to draw in international investment and stimulate economic growth. Bilal bin Saqib, CEO of the Pakistan Crypto Council and the newly appointed chief advisor to the finance minister for digital assets, highlighted the importance of this initiative in unlocking Pakistan’s potential. He noted, “Pakistan is done sitting on the sidelines. We want to attract international investment because Pakistan is a low-cost high-growth market with 60% of the population under 30. We have a Web3 native workforce ready to build.”

Cryptocurrency trading has already gained considerable momentum in Pakistan, with the nation ranking ninth globally in crypto adoption. Despite warnings from the central bank about the risks associated with digital assets, an estimated 15 million to 20 million people are actively trading cryptocurrencies. This high level of engagement is driven by a young, tech-savvy population eager to explore new economic opportunities, fueling the country’s push for legalization.

The legalization initiative comes at a time when global interest in digital assets is surging. The creation of the National Crypto Council marks a definitive policy turnaround, serving as a watchdog for the industry. This council will ensure that the burgeoning crypto market operates within a framework that safeguards investors while fostering innovation. The government’s determination to integrate digital finance into its broader economic strategy is evident in this move.

The international shift towards digital assets, particularly the pro-crypto stance adopted by the US under President Donald Trump, has encouraged Pakistan to align itself with global financial standards. This alignment is seen as an opportunity for Pakistan to be at the forefront of the digital economy. The State Bank of Pakistan has been actively exploring the legalization of cryptocurrencies and proposed a legal framework to recognize digital assets as official forms of currency. This structured approach to digital finance regulation aims to strengthen Pakistan’s position in the global crypto economy while ensuring financial security.

The establishment of the Pakistan Crypto Council, led by Bilal bin Saqib, underscores the government’s commitment to this initiative. The council’s role will be to implement digital currency regulations and oversee the development of the crypto market. By adopting a proactive stance, Pakistan seeks to position itself as a leader in blockchain finance, attracting international investors and fostering economic growth. The country’s young population and tech-savvy workforce are seen as key assets in this endeavor, ready to build and innovate in the digital finance sector.