Bin Saqib, main advisor to the Minister of Finance of the Crypto Council of Pakistan, said the country planned to legalize cryptocurrency to attract international investment in Pakistan, Bloomberg reported.
In an interview with BloombergSaqib said that Pakistan aimed to create “a clear regulatory framework to govern digital asset activities to boost the local ecosystem.”
“Pakistan has finished sitting aside,” he said, adding that they wanted to attract international investment because the country was a “high -growth market with 60 percent of the population under 30 years.
“We have a native Web3 workforce ready to build,” he said.
On February 25, the Ministry of Finance announced that it was considering “establishing a National Crypto Council” to adopt emerging digital coins in line with global trends, appointing Bin Saqib as the main advisor of the Minister of Finance of the Council.
The Crypto Council is designed to supervise the development of policies, address regulatory challenges and ensure that the Pakistan digital asset ecosystem evolves safely, fulfilled and sustainably. The Council will also collaborate with friendly countries to develop standardized frameworks for international digital economic participation.
Saqib said: “Trump is making cryptography a national priority and each country, including Pakistan, will have to do the same.”
The president of the United States, Donald Trump, has announced the names of five digital assets that he hopes to include in a new Cryptographic Strategic Reserve of the United States. UU.
The Republican president obtained the support of the cryptographic industry in his 2024 electoral offer, and has quickly moved to support his political priorities. Under their Democratic predecessor, Joe Biden, regulators took energetic measures against industry in an attempt to protect Americans from fraud and money laundering.
Trump said on social networks that his January executive order on digital assets would create a reserve of currencies that include Bitcoin, Ether, XRP, Sol and Ada.
Trump said his order “ordered the Presidential Working Group to advance in a cryptographic strategic reserve that includes XRP, Sol and Ada. I will make sure that the United States is the capital of Crypto in the world.”
