Pakistan reaffirms its commitment to regulating crypto assets

Pakistan has reiterated its commitment to regulations in the cryptocurrency industry. The government discussed these and other aspects of the industry during a high-level meeting with senior officials from the popular crypto exchange Binance, underscoring its commitment to building transparent regulations.

The high-level meeting was attended by several top figures from Binance, including its Global CEO Richard Teng. In addition, there were also attendees from high-level officials in the country, with the country using the opportunity to inform the Binance executives about their plans for the industry. Prime Minister Shehbaz Sharif and Chief of Defence Forces, Field Marshal Asim Munir, were also present in the meeting.

Pakistan discusses its commitment to the crypto industry

The meeting was presided over by Bilal Bin Saqib, chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA). Bin Saqib outlined the recent progress and several initiatives that the authority has been carrying out. In an official statement, the Prime Minister’s office mentioned that the government remained committed to creating a transparent and secure regulatory framework for digital assets in Pakistan.

In addition, the statement touched on innovation, noting that the country is doing its best to ensure that it promotes innovation while making sure the interests of investors are safeguarded. The engagement comes as Pakistan prepares to explore the digital finance industry through the creation of its stablecoin, a detail that was shared by Bin Saqib during the Binance Blockchain Week. The country sees it as part of a wider plan to integrate digital assets into its national economy.

Bin Saqib also mentioned that Pakistan is looking into the creation of its Central Bank Digital Currencies (CBDCs). He made the comments during the panel discussion on market regulation hosted by the Pakistan Crypto Council. This update comes after the unveiling of Pakistan’s first Strategic Bitcoin Reserve at Las Vegas earlier this year. The effort is expected to be led by the government, even though other details concerning the development have not been shared.

Pakistan remains one of the most active crypto markets. According to the Global Crypto Adoption Index for 2025 released by Chainalysis, the country ranks third globally, ahead of global powerhouses China, Germany, and Japan. In addition, Pakistan also ranked second in retail crypto transactions, while ranking in third place in terms of activities on centralized exchanges, a metric that represents increased transaction volumes.

Momentum expected to power crypto regulations

Bin Saqib mentioned that Pakistan plans to channel this momentum through a structured regulatory environment. “Pakistan is the world’s third-largest crypto market without any regulatory framework,” he said at Binance Blockchain Week Dubai. “Now we want to turn this momentum into a global case study.” However, he cautioned that the rankings measured crypto transaction volume, noting that it doesn’t specifically look into the number of people holding digital assets.

According to estimates, there are about 20 to 40 million Pakistanis who hold crypto, although Bin Saqib believes that the number remains relatively unknown due to a lack of independent nationwide studies. Pakistan is now at a critical point, growing the crypto market that appeals to its youth population. The country is also working on regulations while adoption continues to rise, a mix that might look to benefit them in the long run.

However, users are warned about the proliferation of scams in the industry and are urged to be careful. Experts also noted that aside from scams, risks rising from volatility and limited public awareness about digital assets may also provide enough challenge to early adopters. Bin Saqib noted that Pakistan has a high-growth future in the crypto market, noting that it will rely on how it balances regulation, protects investors, and ensures the long-term stability of the market.

Sign up to Bybit and start trading with $30,050 in welcome gifts