- Binance co-founder Changpeng “CZ” Zhao has agreed to advise Pakistan’s newly formed Crypto Council to develop regulations and infrastructure.
- The council aims to position Pakistan as the cryptocurrency capital of South Asia amid declining foreign investment in the country.
- This advisory role marks Zhao’s continued re-engagement with the crypto industry following his prison sentence and departure as Binance CEO.
Changpeng Zhao, the co-founder of cryptocurrency exchange Binance, has agreed to serve as an advisor to Pakistan’s recently established Crypto Council. The announcement came Monday as part of Pakistan’s broader initiative to attract foreign investors to its developing digital asset sector, according to Bloomberg Law’s reporting from Islamabad.
Zhao, widely known as “CZ,” will provide guidance on developing Pakistan’s cryptocurrency “regulations, infrastructure, education, and adoption,” per the Bloomberg report. This advisory role comes shortly after the council’s first meeting, which took place on March 21. Pakistan’s Finance Ministry stated in March that the council seeks to establish regulatory clarity for digital assets to “unlock the full potential of the sector” in the country.
Pakistan’s Crypto Ambitions
The formation of the Crypto Council appears to be part of Pakistan’s strategy to address declining foreign investment. According to Pakistan Today, the country’s foreign direct investment fell by 45% in February compared to the same period last year. Bilal Bin Saqib, the CEO of the Pakistan Crypto Council, told Bloomberg TV in March that the council’s work is aimed at transforming Pakistan into the cryptocurrency capital of South Asia.
The region shows significant potential for growth in the cryptocurrency sector. Data from Chainalysis indicates that Central and Southern Asia and Oceania represent the third-largest region for crypto investments, accounting for over $750 billion in cryptocurrency inflows. Additionally, market research firm IMARC Group projects that the Southeast Asia cryptocurrency market will grow by 8.5% over the next eight years.
CZ’s Continuing Crypto Journey
Zhao’s new advisory role represents his ongoing re-engagement with the cryptocurrency industry following legal troubles in the United States. Earlier this year, he announced his first major crypto investment through venture firm YZi Labs, just months after completing a four-month prison sentence for violating money laundering regulations during his tenure as Binance’s chief executive.
Beyond his cryptocurrency activities, Zhao has also pursued educational initiatives. In 2024, he launched Giggle Academy, a non-profit digital education platform for students in grades one through 12, describing it as the “most impactful thing I could do with my life.”
The partnership between Zhao and Pakistan’s Crypto Council represents a significant step in the country’s efforts to develop its digital asset ecosystem and potentially reverse its recent decline in foreign investment.
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