Pakistan Sets Foot in the Crypto World: A Game-Changer or Another Bureaucratic Move?
Pakistan has finaly taken a big step towards crypto adoption with the official launch of the Pakistan Crypto Council (PCC) on this Friday. This initiative is aimed at regulating and fostering and integrating blockchain and digital assets into the country’s financial landscape. But will it be the revolutionary change Pakistan needs, or just another policy that never sees real action?
A Bold Move or A Delayed Decision?
The Finance Division issued a press realise, stating that PCC is a government-backed initiative that will bring blockchain and cryptocurrency innovation into Pakistan’s economic framework. The move comes after years of speculation about Pakistan instance on digital assets.
However, the country has been slow in adopting crypto as when compared to other nations. While countries like El Salvador and UAE have already been taken major steps in digital currency adoption, Pakistan has been cautious—possibly due to concerns about financial security and illegal transactions, and lack of infrastructure.
The Idea Behind the Crypto Council is that Pakistan Crypto Council (PCC) didn’t just appear out of nowhere for blockchain. On February 25, a high-level meeting took place between Finance Minister Muhammad Aurangzeb and a foreign delegation. Following the discussion, the finance ministry announced its plans to establish a National Crypto Council.
The goal? To adopt emerging digital currencies in line with global trends and explore how Pakistan can benefit from blockchain technology.
Earlier this month, the federal government appointed entrepreneur Bilal Bin Saqib as the chief adviser to the finance minister for the council in blockchain. His appointment was described by the Finance Division as a “significant step forward” in Pakistan’s journey toward digital currencies.
Who’s Running the Show for Blockchain?
The Pakistan Crypto Council will be chaired by Finance Minister Muhammad Aurangzeb, while Bilal Bin Saqib will act as CEO.
The board members will include:
✅ Governor of the State Bank of Pakistan
✅ Chairman of the Securities and Exchange Commission (SECP)
✅ Federal Law Secretary
✅ IT Secretary
This leadership structure is meant to ensure that all aspects of crypto adoption—from regulation and financial stability to legal frameworks and technological advancements—are handled properly.
But the real question remains: Will they actually take action, or will it be just another bureaucratic hurdle?
Crypto Council’s Mission: More Than Just Regulation?
The Finance Division claims that the PCC is not just about creating rules but also about fostering innovation.
“The council is set to play a pivotal role in formulating policies thus fostering an innovation, and ensuring a secure and forward-thinking approach to crypto adoption in Pakistan.”
The Finance Minister also expressed optimism about Pakistan’s role in the global crypto space due:
“The world is moving rapidly toward digital finance and hence Pakistan wishes to be a leader in the space. The establishment of the Pakistan Crypto Council is a step towards embracing innovation while ensuring that we create a regulatory framework that protects investors and the financial system.”
His statement sounds promising, but Pakistan has a history of slow policy implementation. So the biggest challenge will be translating words into action.
But achieving this vision will require tangible action—not just fancy statements.
What’s Next? PCC’s Roadmap for Crypto Adoption
The Pakistan Crypto Council (PCC) has outlined several key priorities moving forward:
✅ Regulatory Framework – Establishing clear guideline to facilitate crypto adoption while ensuring financial security and compliance.
✅ Global Partnerships – Engage with international blockchain 0rganization to ensure that Pakistan follows global best practices.
✅ Support for the Startups – Work closely with fintech startups investors and blockchain developers to encourage responsible inovation.
✅ Consumer Protection – Implement legal safeguards to protect users from fraud and financial risks from blockchain
✅ Education & Awareness — Launch initiatives to educate people about blockchain and also digital finance.
The council’s success will depend 0n how quickly these steps are implemented—or whether they get stuck in political red tape.
Will Pakistan Become a Crypto Powerhouse or would Fall Behind?
Pakistan’s move towards crypto regulation is happening at a crucial time.
Other developing countries like India, Nigeria, and Indonesia are already making progress in the crypto space. If Pakistan delays, it risks falling behind.
However, challenges remain:
⚠️ Lack of Awareness – Many people in Pakistan still doesn’t understand crypto.
⚠️ Regulatory Uncertainty – Will the government actually follow thorough with its plan?
⚠️ Financial Risks – Crypto is highly volatile which could lead to economic instability if not handled properly.
If PCC can overcome these hurdles, Pakistan could become a key player in the global digital economy. If not, it might just be another missed opportunity.
For now, the launch of the Pakistan Crypto Council is a right step in the right direction —but whether it leads to real progress remains to be seen.
