Pakistan has officially entered the digital financial landscape with the launch of the Pakistan Crypto Council (PCC), a platform aimed at integrating cryptocurrency into the national economy.

During the inaugural meeting, chaired by Finance Minister Muhammad Aurangzeb, key stakeholders, including State Bank of Pakistan (SBP) Governor, SECP Chairman, and tech industry leaders, came together to discuss the future of digital assets in Pakistan.

Speaking at the event, Bilal bin Saqib, CEO of the Pakistan Crypto Council, outlined a bold vision for utilising excess electricity for Bitcoin mining, suggesting it could transform liabilities into national assets.

He also highlighted the challenges facing Pakistan's crypto landscape and stressed the importance of a clear regulatory framework to ensure safe and responsible adoption.

Finance Minister Aurangzeb acknowledged the potential of cryptocurrency and emphasised that the council would act as an umbrella platform to unite all regulatory bodies and stakeholders.

"This marks the beginning of a new digital chapter for Pakistan’s economy. We are committed to building a transparent, future-ready financial system that attracts investment and empowers our youth," he stated.

The discussion also touched on the regulatory models that could be adapted to Pakistan’s unique economic conditions. Minister Aurangzeb pointed out that while Pakistan can learn from global best practices, its revenue and business models must be deeply rooted in local realities.

Participants, including officials from the IT and legal ministries, stressed the importance of consumer protection, blockchain mining regulations, and a national blockchain policy. The need for pilot programmes, a phased rollout strategy, and compliance with international obligations was also discussed.

The meeting concluded with a collective commitment to harnessing the power of blockchain and cryptocurrencies while safeguarding Pakistan’s economic interests.

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