The Pakistani government has officially launched Pakistan Crypto Council (CPC) to regulate and integrate blockchain technology and digital assets in the country’s financial system, according to a press release from the finance division.
The announcement follows the recent appointment of Bilal Bin Saqib as chief advisor to the Minister of Finance of the Council. The PCC is an initiative supported by the government designed to regulate, promote and integrate blockchain and cryptocurrency innovations in the economic framework of Pakistan.
A declaration division declaration described the training of the Council as an important step in the country’s efforts to adopt digital finance, positioning it as a key player in world change towards blockchain technology.
The Council will be led by the Minister of Finance Muhammad Aurangzeb, with its immediate council including the governor of the State Bank of Pakistan, the president of the Securities and Exchange Commission of Pakistan (SECP), the Federal Secretary on Law and the Federal IT secretary.
The structure of diversified leadership aims to ensure a balanced approach to regulatory monitoring, financial stability, legal frameworks and technological progress.
Aurangzeb pointed out the launch, stressing Pakistan’s desire to lead in the digital financial space.
“The establishment of Pakistan Crypto Council is a step towards the adoption of innovation while ensuring us to create a regulatory framework that protects investors and the financial system,” he said.
He also underlined the country’s commitment to promote a responsible and progressive cryptographic ecosystem for economic growth.
Bilal Bin Saqib stressed the importance of the Council, declaring that its objective extends beyond the regulations to the creation of an environment where blockchain and digital finance can prosper.
He reiterated the advice’s objective to make Pakistan a competitive player in the global digital economy while prioritizing security, transparency and innovation.
PCC priorities include the establishment of clear regulatory guidelines to facilitate the adoption of cryptocurrencies, engage with international cryptography and blockchain organizations to ensure best practices and promote responsible innovation.
In addition, the Council will work with the main stakeholders in industry such as fintech startups, investors and blockchain developers, while focusing on consumer protection and financial security thanks to robust legal and compliance.
