Pakistan prepares to legalise cryptocurrency trading

Pakistan is set to legalise cryptocurrency trading, joining a growing list of nations embracing digital assets. According to Bilal bin Saqib, CEO of the Pakistan Crypto Council, a regulatory framework is in development to provide clarity on crypto-related activities.

The country’s shift highlights the rapid evolution of the cryptocurrency sector. Once associated with illicit activities, various nations are now exploring digital assets as reserves.

Pakistan’s interest in crypto reflects its ambition to attract foreign investment, leveraging its young, tech-savvy workforce. Saqib emphasised that Pakistan, with 60% of its population under 30, is well-positioned to become a Web3 hub.

With a projected population of 511 million by 2100, Pakistan ranks among the most populous countries. The nation already has 15 to 20 million cryptocurrency users, signalling strong domestic interest.

Saqib, recently appointed as the finance minister’s chief advisor for digital asset management, is leading efforts to integrate crypto and artificial intelligence into government operations.

Inspired by Donald Trump’s push to prioritise cryptocurrency in the US, Pakistan aims to follow suit. Saqib noted that as Trump advances a national crypto strategy, other countries will adopt similar approaches to remain competitive.

For more information on these topics, visit diplomacy.edu.