Pakistan sets up digital asset authority
Finance officials say the new authority will help Pakistan lead the global blockchain race.
Pakistan has formed a new body to regulate its growing digital asset market and embrace blockchain-based financial innovation. The Pakistan Digital Assets Authority (PDAA), backed by the Ministry of Finance, will license and oversee exchanges, custodians, wallets, stablecoins, and decentralised finance platforms.
Federal finance minister Muhammad Aurangzeb said the goal is not only to catch up but to lead the sector globally. PDAA will also tokenise national assets and government debt, and monetise excess electricity through regulated Bitcoin mining.
The move follows advice from the Pakistan Crypto Council, which includes former Binance CEO Changpeng Zhao. Council CEO Bilal Bin Saqib described the strategy as a complete rewrite of Pakistan’s financial future, with a focus on financial inclusion, digital exports, and innovation.
Pakistan‘s stance on crypto has shifted rapidly. Although the government had ruled out legalising digital assets in 2023, the country ranked ninth in Chainalysis’ 2024 crypto adoption index.
With over 27 million users expected by 2025 and projected revenue of $1.6 billion, Pakistan’s digital asset sector is now seen as a key growth driver.
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