Pakistan Crypto Council Forms Technical Committee to Draft Crypto Laws and Regulations

A high-level meeting of the Pakistan Crypto Council (PCC) was held at the Finance Division, chaired by the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb. The meeting focused on the draft regulatory framework for digital and virtual assets in Pakistan, aiming to align with international standards and evolving technological trends. Participants also discussed various options for establishing an autonomous regulatory authority to oversee and regulate the digital finance and cryptocurrency ecosystem in the country. Members of the Council provided valuable input to ensure a secure, transparent, and innovation-friendly regulatory environment, with the goal of promoting responsible blockchain adoption, safeguarding investors, and advancing financial inclusion. It was agreed to constitute a technical committee comprising representatives from SBP, SECP, Law Division, and IT & Telecom Division. The committee will review the draft laws and propose a robust framework and governance structure for review by the Pakistan Crypto Council at its next meeting. The Chair appreciated the contributions of all stakeholders and reaffirmed the Government’s commitment to building a future-ready financial infrastructure that supports innovation while maintaining financial stability and regulatory compliance. The meeting was attended virtually by Mr. Bilal Bin Saqib, Minister of State/Special Assistant to the Prime Minister on Blockchain and Crypto and Chief Executive Officer of the Pakistan Crypto Council. The meeting was also attended virtually by the Governor, State Bank of Pakistan (SBP) while Chairman, Securities and Exchange Commission of Pakistan (SECP); Secretary, Law & Justice Division; and Secretary, Ministry of Information Technology & Telecommunication, who joined in person.