Senator Barred From Introducing Bill to Legalize Cryptocurrencies in Pakistan

Senator Dr. Afnan Ullah Khan was blocked from introducing the Virtual Assets Bill 2025 during a session of the Upper House on Monday. Law Minister Azam Nazeer Tarar argued that only the federal government is authorized to propose such legislation as per the Constitution. Following the Law Minister’s remarks, the Senate’s Deputy Chairman postponed the bill. The future of the bill now remains uncertain unless the federal government itself pushes the bill for deliberation on the Senate floor. It bears mentioning that the purpose of the Virtual Assets Bill 2025 is to regulate the issuance, use, trading, and utilization of virtual assets within Pakistan, the introduction of the Digital Rupee backed by the PKR, setting up virtual asset zones, which would ensure financial stability, protect investors, and prevent illegal activities, and also establish the legal framework for the digital rupee to be recognized as authorized legal tender.