Pakistan Establishes Council for Crypto Oversight
The Pakistani government has announced plans to create a national crypto council aimed at guiding legislation in the digital asset sector. This initiative follows discussions involving President Donald Trump’s digital asset advisors, as reported by local news agency Dawn.
Council Responsibilities
The proposed council will serve as an advisory body, bringing together representatives from the government, regulatory authorities, and industry experts. Its primary role will be to develop policies and collaborate internationally to create standardized frameworks, according to statements from the finance ministry.
- Until last year, the finance ministry was resistant to crypto regulation.
- The finance minister participated in a meeting with various international delegates, including those associated with President Trump.
Finance Minister Muhammad Aurangzeb has expressed a willingness to approach crypto regulation with an open mind. He emphasized the necessity of establishing a well-regulated digital asset framework, marking a shift in the government’s stance.
International Context
Following Donald Trump’s election, the U.S. has begun adopting more crypto-friendly policies, attracting attention from nations worldwide. Pakistan’s new council aims to leverage this momentum and develop similar frameworks domestically.
Despite the significant developments, CoinDesk has been unable to reach the Finance Ministry for further comments.
