Pakistan central bank governor says digital currency pilot will be launched

PANews reported on July 11 that according to Reuters, the Central Bank of Pakistan is preparing for a digital currency pilot and finalizing virtual asset regulations. On July 9, Central Bank Governor Jameel Ahmad said at the Reuters NEXT Asia Summit that the country is modernizing its financial system and strengthening the central bank's digital currency capabilities, hoping to launch a pilot as soon as possible. He discussed the monetary policy challenges in South Asia with the Governor of the Central Bank of Sri Lanka, saying that the new law will lay the foundation for the licensing and regulation of the virtual asset industry, and the central bank has contacted some technology partners. He stressed that this emerging field has both risks and opportunities, and it is necessary to carefully assess and manage risks and seize opportunities. On the same day, Pakistan's Minister of State for Blockchain and Cryptocurrency Affairs said that the government has approved the Virtual Assets Act 2025 and will set up an independent agency to regulate the cryptocurrency industry.