Pakistan is taking significant steps towards establishing a legal framework for cryptocurrency as the country aims to position itself as a crypto-friendly destination for international investors. This move indicates a transition from prior uncertainty as officials now seek regulatory clarity to attract innovations powered by blockchain.

“Pakistan is done sitting on the sidelines; we want regulatory clarity. We need to have a legal framework that is pro-business,” said Bilal Bin Saqib, CEO of the Pakistan Crypto Council, in an interview with Bloomberg.

Pakistan’s Young Workforce Key To Blockchain Growth, Says Adviser

Saqib, who was appointed chief adviser to Pakistan’s finance minister for cryptocurrency management, noted that the country’s young population could drive blockchain adoption, stating that “Sixty percent of the population is under 30, and we have a Web3-native workforce ready to build.”

Pakistan ranked ninth globally for crypto adoption in 2023, according to Chainalysis, with an estimated 20 million Pakistani crypto users. Saqib believes the country must act swiftly to remain competitive, especially as global leaders integrate crypto into financial strategies. He called US President Donald Trump “the biggest bullish catalyst for crypto in history,” pointing out Trump’s plans for a Bitcoin reserve and urging other nations, including Pakistan, to follow suit.

Key Takeaways

• Pakistan is moving toward crypto regulation, aiming to attract international investors and position itself as a blockchain-friendly economy.
• The country’s young, Web3-native workforce is seen as a key driver of blockchain adoption, with over 20 million estimated crypto users.
• Pakistan plans to establish a National Crypto Council, signaling a shift from past resistance to a more open approach to digital assets.