Pakistan has taken a decisive step towards the legalisation and regulation of digital assets, as the country’s Crypto Council convened under the chairmanship of Finance Minister Muhammad Aurangzeb.
The high-level meeting, held on Thursday, reviewed a comprehensive legal draft aimed at establishing a regulatory framework for cryptocurrencies and other digital assets in the country.
According to the Ministry of Finance, the proposed legislation has been prepared in consultation with members of the Pakistan Crypto Council and developed in line with international standards.
The Ministry of Law presented the legal draft during the session, outlining provisions to ensure governance, adherence to protocols, and strong investor protection mechanisms. The Finance Ministry emphasised that the framework focuses on creating a secure and transparent environment for digital financial transactions.
The draft legislation, reviewed in detail during the meeting, is expected to be approved on an emergency basis. Officials stated that the legal structure is designed to take advantage of the global shift toward blockchain and crypto technologies while ensuring strict oversight.
Finance Minister Muhammad Aurangzeb lauded the efforts of all stakeholders involved and expressed confidence that the new regulatory environment will allow Pakistan to benefit economically from the burgeoning crypto space.