Pakistan reviews draft framework for digital assets regulation

June 05, 2025 (MLN): A comprehensive regulatory framework for digital and virtual assets in Pakistan was reviewed and refined during a follow-up meeting of the Pakistan Crypto Council (PCC) held at the Finance Division, chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.

The meeting was attended virtually by Mr. Bilal Bin Saqib, Minister of State/Special Assistant to the Prime Minister on Blockchain and Crypto and Chief Executive Officer of the Pakistan Crypto Council.

Other participants included the Governor of the State Bank of Pakistan (SBP); Chairman of the Securities and Exchange Commission of Pakistan (SECP); Secretary, Law & Justice Division; and Secretary, Ministry of Information Technology & Telecommunication.

During the meeting, the Ministry of Law and Justice tabled a draft of the proposed legal framework, developed through close collaboration with members of the Pakistan Crypto Council, key stakeholders, and technical experts.

The draft legislation outlines a robust regulatory structure for digital and virtual assets, encompassing governance mechanisms, licensing protocols, and investor protection provisions, according to the press release issued today.

Designed in alignment with international best practices and evolving global standards, the proposed framework seeks to position Pakistan as a forward-looking participant in the digital asset ecosystem.

Finance Minister Muhammad Aurangzeb lauded the collaborative efforts of all involved and underscored the importance of swiftly finalizing and operationalizing the framework to provide legal certainty and harness the economic potential of blockchain and crypto technologies in the country.

It was collectively agreed that the in-principle approval process will be fast-tracked to ensure timely enactment and effective implementation.

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