Finance Minister Asks State Bank to Consider Cryptocurrency Regulations in Pakistan

Finance Minister Muhammad Aurangzeb on Monday called on the State Bank of Pakistan (SBP) and other concerned regulators to consider cryptocurrencies with an open mind. He said this while speaking at the Pakistan Banking Summit 2025 in Karachi. He said digital assets were gaining traction in informal markets and there was a need to stay ahead of regulatory challenges. The Finance Minister noted that emerging markets are increasingly focusing on AI and digital assets to enhance financial inclusion. He acknowledged that cryptocurrency regulation remains within SBP’s jurisdiction but urged proactive policymaking to make such assets commonplace in growing economies like Pakistan. The minister also highlighted Pakistan’s progress in digital banking. He said the country is committed to reducing cash dependency through the wider adoption of POS machines and QR codes. He also reassured that deregulation and privatization were the top priorities of the coalition government. This is a must to attract foreign direct investment (FDI) into different sectors of the economy,” he stated. The Finance Minister vowed that Pakistan will continue structural economic reforms, particularly in taxation, energy, and the Federal Board of Revenue (FBR), to break the boom-and-bust cycle and ensure sustainable growth.