Pakistan is setting its sights on becoming a cryptocurrency leader in South Asia, led by CEO Bilal bin Saqib. The efforts aim to develop a regulatory framework that could attract international investment.
Bilal bin Saqib Leads Pakistan's Crypto Regulatory Push
Bilal bin Saqib, CEO of the Pakistan Crypto Council, is leading the effort to create a regulatory framework for digital asset activities. The move is supported by key governmental figures, including finance ministers and representatives from the State Bank and the Securities and Exchange Commission of Pakistan. Surveys estimate 15-20 million local users, reflecting strong demand for digital assets.
Pakistan's Crypto Adoption on the Rise
Pakistan's stance on cryptocurrency has shifted significantly from initial resistance to exploring its potential as a key economic driver. According to Chainalysis data, the nation ranks ninth in the world for crypto adoption, highlighting significant untapped market potential.
Global Trends and Their Impact on Pakistan
Experts note the potential increase in foreign investment due to these regulatory changes. Saqib emphasizes the need to align with global priorities, stating, "Every country, including Pakistan, will have to follow this path or risk being left behind."
Pakistan is taking steps to leverage its competitive advantages with robust legal regulation, positioning it as a promising market for international investors.
