Pakistan Crypto Council (PCC) has agreed to establish a technical committee tasked with reviewing draft laws and proposing a comprehensive framework and governance structure for digital and virtual assets. This announcement came following a high-level meeting held at the Finance Division on Monday, chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb. The meeting gathered key stakeholders from across the government and regulatory bodies to deliberate on the evolving crypto landscape and regulatory needs in Pakistan.
The technical committee will include representatives from State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Law Division, and Ministry of Information Technology & Telecom. This group is expected to scrutinize existing draft legislation and suggest robust governance mechanisms designed to ensure the development of a secure and transparent digital asset ecosystem. The proposed framework will be submitted to the Pakistan Crypto Council for further review in the next scheduled meeting.
Discussions during the meeting focused on aligning Pakistan’s digital assets regulatory framework with international standards and adapting it to emerging technological trends. The participants evaluated various models for establishing an autonomous regulatory authority dedicated to overseeing digital finance and crypto activities within the country. Such a regulatory body would be responsible for ensuring compliance, investor protection, and fostering innovation in the sector.
Council members contributed valuable insights aimed at balancing innovation with security. They emphasized the importance of a regulatory environment that promotes responsible blockchain adoption while safeguarding investors and advancing financial inclusion across Pakistan. The meeting reflected growing recognition of digital assets’ potential to reshape Pakistan’s financial infrastructure if regulated prudently.
Governor, State Bank of Pakistan, attended the meeting virtually, while Chairman SECP, Secretary Law & Justice Division, and Secretary Ministry of IT & Telecom were present in person. Bilal Bin Saqib, Minister of State and Special Assistant to Prime Minister on Blockchain and Crypto as well as CEO of PCC, participated remotely, highlighting the government’s active engagement in crafting crypto regulations.
Senator Aurangzeb acknowledged contributions from all stakeholders and reiterated the government’s commitment to developing a future-ready financial ecosystem. This ecosystem aims to support innovation while maintaining financial stability and regulatory compliance, an essential balance to encourage growth in digital finance without compromising oversight.
The formation of this technical committee marks a significant step forward in Pakistan’s efforts to establish a clear legal and regulatory framework for cryptocurrencies and other virtual assets. With growing interest from investors, startups, and financial institutions in Pakistan’s crypto sector, the framework will play a crucial role in defining the rules of engagement for this emerging market. This development also signals the government’s proactive stance on integrating digital finance into Pakistan’s broader economic and technological agenda.
