Pakistan is taking significant steps to create a legal framework for cryptocurrency trading in an effort to attract international investment.
Bilal bin Saqib, CEO of the Pakistan Crypto Council told that the country’s goal of developing a clear regulatory framework to govern digital asset activities, which will help boost the local ecosystem.
Saqib’s statement follows the recent establishment of a national crypto council by Prime Minister Shehbaz Sharif, aimed at promoting blockchain technology in the country. “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,” he stated.
He also noted the growing global emphasis on cryptocurrency, mentioning that “Trump is making crypto a national priority, and every country, including Pakistan, will have to follow suit.”
If Pakistan successfully legalizes cryptocurrency, it will become the first South Asian nation to do so, positioning itself ahead of its larger neighbor, India, which has been skeptical of cryptocurrencies. While Bhutan is actively engaged in Bitcoin mining, cryptocurrencies are not recognized as legal tender in the country.
