Islamabad:
Pakistan Crypto Council (CPC) will hold an important meeting on June 2 to examine the regulations and the legal framework linked to the wider digital scenario and cryptocurrency in Pakistan, according to an announcement from the Ministry of Finance on Friday.
The Federal Minister of Finance, Muhammad Aurangzeb, will chair the meeting, who will be assisted by the PCC chief, Bilal Bin Saqib, the Governor of the State Bank of Pakistan (SBP), the Committee on Securities and the Exchange Committee of the President of Pakistan (SECP) and the Secretaries of Law and Information Technologies.
According to the Ministry of Finance, the main elements of the meeting of the agenda include the development of a robust regulatory framework for digital and virtual assets in Pakistan, which will comply with global standards and technological developments.
He said that the meeting had been summoned as a strategic forum to consider the regulations and the legal framework linked to the crypto in Pakistan. “A key subject of discussion will be the preliminary preparation for the creation of” the regulatory authority for virtual assets of Pakistan “.
The proposed authority will be an autonomous organization, which will oversee the digital and crypto financing ecosystem in the country. “This meeting reflects the government’s commitment to create financial architecture so that the stability and regulation of the emerging digital economy are also guaranteed,” he said.
According to the Ministry of Finance, the Council aims to lay the foundations for a safe, transparent and regulatory environment, with a view to a responsible adoption of blockchain technology and the promotion of investor protection and financial inclusion.
