ISLAMABAD: Finance Minister Muhammad Aurangzeb has called for swiftly finalizing and operationalizing the draft framework to provide legal certainty, and harness economic potential of blockchain and crypto technologies in the country.
He was chairing a follow-up meeting of the Pakistan Crypto Council in Islamabad, to review progress on development of a comprehensive regulatory framework for digital and virtual assets in Pakistan.
During the meeting, a draft of the proposed legal framework, developed through close collaboration with members of the Pakistan Crypto Council, key stakeholders, and technical experts was presented by Law Ministry.
The draft legislation outlines regulatory structure, governance mechanisms, licensing protocols, and investor protection provisions.
The draft was thoroughly reviewed and refined. It was collectively agreed that in-principle approval process will be fast-tracked to ensure timely enactment and effective implementation.
Meanwhile, Minister of State for Crypto and Blockchain Bilal Bin Saqib met with key US government officials and lawmakers in Washington, to strengthen cooperation in digital assets, blockchain regulation, and financial innovation.
Those he held meetings with, included Senators Cynthia Lummis, Bill Hagerty and Rick Scott, Tim Sheehy and Jim Justice, Congressmen Troy Downing, Ryan Zinke, Rick McCormick and others, all of whom are actively engaged in shaping policy frameworks related to emerging technologies.
The Minister of State said we came to learn, listen, and contribute as Pakistan is actively studying how global leaders are approaching regulation, innovation, and financial inclusion.
The exchanges highlighted the need for closer global coordination and the role emerging markets like Pakistan can play in shaping the next chapter of the digital economy.
