A recent meeting between Bilal Bin Saqib, head of the Pakistan Crypto Council, and President Nayib Bukele of El Salvador, held in San Salvador, marks a new chapter in international relations regarding digital assets.
Meeting of Bilal Bin Saqib and Nayib Bukele
Bilal Bin Saqib met with Nayib Bukele to discuss cryptocurrency cooperation. This interaction reflects Pakistan's growing interest in digital assets within the framework of a $7 billion IMF program in place until 2027.
Crypto Trends in Pakistan
Cryptocurrency trading in Pakistan is quite widespread despite central bank warnings about market volatility and consumer risks. An estimated 15 to 20 million Pakistanis hold cryptocurrencies. To channel this momentum, the government has earmarked 2,000 megawatts of electricity for Bitcoin mining and announced plans to establish a national Bitcoin reserve.
IMF's Role in Pakistan's Cryptocurrency Policy
Moreover, Fakhre Alam Irfan, Pakistan's Power Secretary, indicated that the IMF has raised concerns about preferential electricity rates for crypto miners, highlighting potential market distortions. Under the IMF program terms, any significant shifts in energy policy require prior IMF approval. In July 2025, Pakistan established the Pakistan Virtual Assets Regulatory Authority to license and oversee virtual asset exchanges, wallets, and related services.
The collaboration between Pakistan and El Salvador in the field of digital assets may indicate a changing landscape in international relations where cryptocurrencies play a significant role.
