Pakistan Set To Legalise Cryptocurrency To Attract Foreign Investment; Details Here – News18
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Pakistan aims to devise a clear regulatory framework for governing digital-asset activities to boost the local ecosystem, Bilal bin Saqib, CEO at Pakistan Crypto Council, tells Bloomberg TV in an interview.
On March 14, 2025, Pakistan officially launched the national crypto council to regulate and integrate blockchain technology and digital assets into the country’s financial system. (Shutterstock)
At a time when the country’s economy is crippling with massive debt, Pakistan is planning to legalise cryptocurrency in order to attract international investments. According to a Bloomberg report, Pakistan aims to create a legal framework for cryptocurrency trading.
“The country aims to devise a clear regulatory framework for governing digital-asset activities to boost the local ecosystem,” Bilal bin Saqib, chief executive officer at Pakistan Crypto Council, told Bloomberg TV in an interview.
He said Pakistan is no longer standing idly by. “We hope to attract international investment because Pakistan is a low-cost, high-growth market with 60% of the population under 30 years old. We have a local workforce ready to build Web3.”
“Trump is making cryptocurrency a national priority, and every country, including Pakistan, will have to follow suit,” Saqib added.
Pakistan Crypto Council To Manage Crypto Assets
On March 14, 2025, Pakistan officially launched the national crypto council to regulate and integrate blockchain technology and digital assets into the country’s financial system. It came after Saqib was appointed as chief advisor to Finance Minister Muhammad Aurangzeb for the management of digital assets.
Chaired by Finance Minister Muhammad Aurangzeb, the Pakistan Crypto Council (PCC) would regulate, promote, and incorporate blockchain and cryptocurrency innovations into Pakistan’s economic framework.
The council’s leadership includes key figures such as the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Federal Law and IT Secretaries.
A statement from the Finance Division on Friday described the council’s formation as a significant step in the country’s efforts to adopt digital finance, positioning it as a key player in the global shift towards blockchain technology.
Pakistan’s Cryptocurrency Market Size
Currently, there are around 15 million to 20 million cryptocurrency users in Pakistan, said Saqib.
According to Chainalysis, the South Asian country is the ninth in the world in terms of cryptocurrency adoption.
What Is The Legal Status Of Cryptocurrency In India?
Currently, cryptocurrencies in India are not recognised as legal tender, but trading and investment in digital assets like Bitcoin and Ethereum are legally permitted. The Reserve Bank of India (RBI) had imposed a banking ban on cryptocurrency transactions in 2018, which was overturned by the Supreme Court in March 2020, allowing banks to provide services to cryptocurrency exchanges. The Ministry of Finance has introduced a 30% tax on income from cryptocurrency transactions, along with a 1% Tax Deducted at Source (TDS) on transactions exceeding Rs 50,000 annually.
However, reports suggest that India is reviewing its approach to cryptocurrency regulation. A senior government official told Reuters in February that shifting global attitudes, including policies from US leaders, may influence India’s next steps. This reassessment could delay the release of a long-anticipated discussion paper on cryptocurrency, which was originally expected in September 2024.
