Pakistan Virtual Regulatory Authority (PVARA) Chairman Bilal Bin Saqib has announced that cryptocurrency mining activities will commence in Pakistan within the next few weeks.
Speaking in an exclusive interview with ARY News, Saqib said that several new technologies for bitcoin mining have emerged, adding that mining cards can be installed at power plants to support crypto mining operations.
Use of Surplus Electricity
He stated that the first phase of crypto mining will be launched shortly, after which public concerns and feedback will be addressed. According to Saqib, crypto mining will allow Pakistan to convert surplus electricity into dollar-denominated revenue, helping strengthen the country’s economic outlook.
Pakistan’s Global Crypto Standing
Responding to a question, Saqib said that Pakistan ranks third globally in crypto-related activity, citing a 2025 analytical report. He recalled that in 2018, the State Bank of Pakistan had issued directives to banks regarding cryptocurrency transactions.
He noted that Pakistan previously lacked a formal legal framework for digital assets, which led the government to establish a dedicated regulatory authority. He added that PVARA is now actively promoting a licensing regime for crypto-related activities.
Regulatory Approach
Drawing comparisons with emerging technologies, Saqib said that robotics and quantum computing were not declared illegal at their inception but were regulated gradually, adding that the same approach is being applied to cryptocurrencies.
He further revealed that the authority is working on blockchain regulations linked to cryptocurrencies, warning that failure to move forward could increase the risk of Pakistan being placed back on the Financial Action Task Force (FATF) grey list.
Youth-Driven Adoption and Future Vision
According to Saqib, the growing adoption of cryptocurrency in Pakistan is largely driven by youth, who are preparing for future technologies. He stressed that it is the government’s responsibility to create opportunities for them.
Citing Singapore as an example, he said the country launched a government-backed security pilot project, adding that Pakistan could also raise funds through capital markets instead of relying solely on the International Monetary Fund (IMF).
