Finance Minister Muhammad Aurangzeb has reaffirmed the government's commitment to building a future-ready financial infrastructure that supports innovation while maintaining financial stability and regulatory compliance.
He was chairing a high-level meeting of the Pakistan Crypto Council in Islamabad today. The meeting was attended virtually by Bilal Bin Saqib, Special Assistant to the Prime Minister on Blockchain and Crypto and Chief Executive Officer of the Pakistan Crypto Council.
The meeting was also attended virtually by the Governor, State Bank of Pakistan, while the Chairman, Securities and Exchange Commission of Pakistan, and federal secretaries of Law as well as Information Technology and Telecommunication, joined the forum in person.
The meeting focused on the draft regulatory framework for digital and virtual assets in Pakistan, aiming to align with international standards and evolving technological trends. Participants also discussed various options around the establishment of an autonomous regulatory authority to oversee and regulate the digital finance and crypto ecosystem in the country.
Members of the Council provided valuable input to ensure a secure, transparent, and innovation-friendly regulatory environment, with the goal of promoting responsible blockchain adoption, safeguarding investors, and advancing financial inclusion. The Chair appreciated the contributions of all stakeholders.
It was agreed to constitute a technical committee comprising representatives from State Bank of Pakistan, Securities and Exchange Commission of Pakistan, Law Division, and IT & Telecom Division. The committee will review the draft laws and propose a robust framework and governance structure to be reviewed by the Pakistan Crypto Council in its next meeting.