Pakistan Moves to Legalize Cryptocurrency to Attract Foreign Investment

In Brief:

Pakistan is developing a regulatory framework to legalize cryptocurrency trading and attract foreign investment.
The country ranks 9th in global crypto adoption, with 15-20 million users and over $30B in remittance flows.

Pakistan is making a major shift in its stance on cryptocurrency by drafting clear regulations for digital assets. Bilal bin Saqib, Chief Advisor to the Finance Minister on digital assets, revealed that Pakistan aims to become a leader in blockchain-powered finance. The country has 60% of its population under 30, making it a prime Web3 market.

The Pakistan Crypto Council (PCC), led by Finance Minister Muhammad Aurangzeb, will oversee crypto integration into the financial sector. While Pakistan previously opposed crypto legalization, the government now sees a regulated approach as essential for economic growth.

Pakistan ranks 9th globally in crypto adoption, and with $30B in remittances flowing through digital assets, the country is positioning itself as a key player in the Web3 economy.

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