Pakistan Advances National Digital Asset Framework in High-Level Meeting with Binance CEO

Pakistan took a major step toward establishing a regulated digital asset ecosystem as top government officials, banking executives, and senior leaders from Binance, including Global CEO Richard Teng, convened at the Finance Division for a high-level consultative meeting on the National Digital Asset Framework. The session, co-chaired by Federal Finance Minister Senator Muhammad Aurangzeb and PVARA Chairman Bilal Bin Saqib, brought together the Governor of the State Bank of Pakistan, presidents of leading commercial banks, and Binance’s global leadership to chart the country’s next moves in digital asset regulation and innovation. Discussions focused on building a secure, transparent, and innovation-driven digital asset environment. Key priorities included responsible on- and off-ramp infrastructure, enhanced compliance standards, and stronger integration of regulated financial institutions. The group also reviewed the development of a licensing regime for Virtual Asset Service Providers to meet global anti-money laundering and counter-terrorism financing standards. Senator Aurangzeb reiterated Pakistan’s commitment to a robust regulatory environment that balances technological innovation with economic safeguards. He emphasized the need for close coordination between government agencies, global exchanges, and domestic banks to modernize payments, improve financial inclusion, and align with international standards. Binance CEO Richard Teng and his team shared insights on global digital asset trends and Pakistan’s growing role in the sector. Participants discussed the potential for blockchain-based systems to reduce costs in Pakistan’s $38 billion annual remittance flows and highlighted the need to build local talent pipelines for blockchain and Web3 skills. The meeting also explored sovereign debt tokenization to boost liquidity and investor access, as well as practical frameworks for taxation and compliance. Proposals included shifting oversight to licensed exchanges, introducing a gradual capital gains structure, and considering a time-bound amnesty to encourage users to move assets onto regulated platforms. Banking leaders provided input on risk management, custody, and compliance, while the Finance Minister stressed that a regulated environment would promote market stability and attract investment. In his closing remarks, PVARA Chairman Bilal Bin Saqib called for Pakistan to shape global digital asset norms through coordinated engagement and innovation. He underscored the potential of digital assets to drive financial inclusion, expand banking services, and create new opportunities for the country’s youth. The meeting concluded with a commitment to continued collaboration, capacity-building, and knowledge-sharing, positioning Pakistan as a regional leader in responsible digital asset adoption.