In a major step toward shaping Pakistan’s digital financial future, the Pakistan Crypto Council is set to hold a high-level strategic meeting on Monday, June 2, 2025, under the chairmanship of Federal Minister for Finance and Revenue Muhammad Aurangzeb. The meeting is poised to address the country’s evolving approach to cryptocurrency, blockchain technology, and the broader digital assets ecosystem.
This pivotal gathering will bring together top government and financial regulatory leaders to build consensus on Pakistan’s legal and regulatory infrastructure for virtual currencies. It comes at a time when global financial institutions are urging countries to adopt standardized crypto regulations, and local innovation in blockchain and digital finance is gaining traction.
Leadership and Participation
Bilal Bin Saqib, Minister of State and Special Assistant to the Prime Minister on Blockchain and Crypto, will attend the meeting in his dual capacity as a policy advisor and the Chief Executive Officer of the Pakistan Crypto Council (PCC). His involvement reflects the increasing importance of crypto governance at the highest levels of government.
Other senior officials expected to participate include:
- Governor, State Bank of Pakistan (SBP)
- Chairman, Securities and Exchange Commission of Pakistan (SECP)
- Secretary, Law and Justice Division
- Secretary, Ministry of Information Technology & Telecommunication
Together, this group forms a cross-functional panel of regulators and policymakers responsible for developing a national crypto strategy.
Key Focus: Establishing the Pakistan Virtual Assets Regulatory Authority (PVARA)
One of the most anticipated agenda items is the foundation of a new independent body—the Pakistan Virtual Assets Regulatory Authority (PVARA). The proposed entity would serve as the central regulator for the digital finance sector, covering cryptocurrencies, virtual assets, blockchain-based products, and decentralized finance (DeFi) platforms.
PVARA’s core mission would include:
- Developing and enforcing crypto-specific regulations
- Licensing exchanges and digital asset platforms
- Promoting investor protection mechanisms
- Ensuring compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) guidelines
- Facilitating secure and transparent operations within the blockchain and fintech ecosystem
The creation of this authority is expected to streamline regulatory oversight, reduce financial risks, and align Pakistan’s digital economy with international best practices.
Addressing Controversies and Ensuring Transparency
The upcoming session also gains urgency in light of recent concerns raised by the National Assembly’s Standing Committee, which accused the government of an alleged unauthorized crypto initiative. While no official launch of a digital currency has been confirmed, the committee’s critique underscores the need for a clear, transparent, and publicly accountable roadmap.
The Council’s response to these allegations is likely to involve greater disclosure, improved inter-agency coordination, and the introduction of legal instruments that can legitimize crypto adoption without compromising financial stability.
Driving Innovation While Ensuring Compliance
The Pakistan Crypto Council is expected to present a draft framework focused on balancing innovation and investor safety. This includes mechanisms for:
- Certifying and registering blockchain startups
- Setting up legal parameters for Initial Coin Offerings (ICOs)
- Creating tax regulations for crypto earnings
- Monitoring cross-border crypto flows and wallet usage
- Educating the public on safe digital asset practices
Moreover, the framework aims to foster responsible adoption of blockchain technology across sectors, including supply chains, healthcare, e-governance, and banking.
Economic Vision: Financial Inclusion Through Digital Assets
Finance Minister Aurangzeb has consistently emphasized the need to modernize Pakistan’s financial infrastructure, and crypto adoption is being viewed as a potential tool for enhancing financial inclusion. With a large unbanked population and rising digital connectivity, Pakistan stands to benefit from decentralized financial services that can reach remote regions and underserved communities.
The Council’s roadmap will likely include initiatives to:
- Launch pilot projects for digital wallets
- Support small-scale crypto remittance models
- Integrate blockchain-based microfinance platforms
A Future-Ready Financial Ecosystem
As the world moves deeper into the digital finance era, Pakistan is positioning itself to be an early adopter of regulated crypto ecosystems. The outcome of the June 2 meeting will shape the foundation of Pakistan’s digital asset strategy for years to come.
With top officials, cross-sector stakeholders, and international scrutiny all focused on the country’s next move, the meeting is expected to produce substantial policy announcements, legislative pathways, and perhaps even the first concrete steps toward establishing a national crypto regulatory body.
This crucial dialogue reflects the government’s broader vision of enabling a secure, transparent, and innovation-driven economy—one that leverages the power of technology while remaining anchored in fiscal responsibility and legal compliance.
