Pakistan to set example in Digital Assets globally, says Bilal bin Saqib

Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) Bilal Bin Saqib has said that Pakistan will set an example in Digital Assets globally, 24NewsHD TV channel reported.
Bilal bin Saqib’s video statement, televised on Sunday, comes after Pakistan gave initial clearance for Binance and HTX to register with regulators to set up local subsidiaries and begin preparations for full exchange licence applications.
The clearances allow the exchanges to register on the Anti-Money Laundering system, set up local units and prepare full applications.
Speaking about the development, Saqib said the issuance of the NOCs to Binance and HTX was the “first practical step” that reflected a “new mindset”.
Saqib said that Pakistan has not introduced a unique model, but rather adopted a phased approach similar to those implemented by major global financial centers. “Pakistan is among the first three countries in the world to embrace crypto,” he added, noting that between 30 to 40 million Pakistanis have already engaged with digital assets.
He also pointed out that as the global bond market moves towards digital platforms, Pakistan must make timely and informed decisions to stay aligned with the evolving global financial system.
“This framework is not only beneficial for crypto trading but also for various industries,” Saqib said, stressing that the regulatory structure would strengthen Pakistan’s sovereignty through technology in the next decade.
Concluding his remarks, Saqib encouraged the youth to prepare for the future, as Pakistan continues to harness the immense potential of digital assets.