- Pakistan plans to establish a national cryptocurrency council to develop regulatory frameworks for digital assets.
- The initiative follows discussions with advisors linked to President Donald Trump‘s administration.
- Pakistan’s finance ministry has shifted from opposition to regulation to a more open-minded approach toward cryptocurrency.
Pakistan has announced plans to form a national cryptocurrency council aimed at developing comprehensive legislation for digital assets, marking a significant policy shift. The decision comes after Pakistani officials met with digital asset advisors reportedly connected to President Donald Trump, according to a report by local news outlet Dawn.
The proposed council will serve as a dedicated advisory body comprised of government representatives, regulatory authorities, and industry experts. Its mandate will extend beyond domestic policy development to international collaboration on standardized regulatory frameworks for cryptocurrencies.
This initiative represents a notable reversal in Pakistan’s approach to digital assets. Until last year, the nation’s finance ministry had actively opposed regulating cryptocurrencies. However, Finance Minister Muhammad Aurangzeb has indicated a more receptive stance, stating he would examine the matter "with an open mind." The minister also emphasized the importance of establishing well-regulated frameworks for digital assets.
The policy shift appears influenced by recent developments in the United States. Aurangzeb participated in discussions with a foreign delegation on Tuesday, which reportedly included advisors associated with Trump’s digital asset policies. Like many nations, Pakistan appears to be monitoring the United States’ movement toward creating more cryptocurrency-friendly regulations following Trump’s election.
The formation of a dedicated crypto council signals Pakistan’s recognition of digital assets’ growing importance in the global financial ecosystem, though specifics about implementation timelines remain unclear.
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