Pakistan’s chief crypto advisor Bilal bin Saqib has said that the Pakistan Crypto Council recognises the country’s strong position as one of the top 10 nations globally in crypto adoption and that the council will work to recognise crypto as a strategic asset.
As Pakistan moves toward formalising its stance on cryptocurrency, the government on Wednesday announced the appointment of Bilal bin Saqib as the Chief Advisor to the Finance Minister for the Pakistan Crypto Council.
Bilal’s appointment “marks a significant step forward in Pakistan’s commitment to embracing the transformative potential of digital currencies, ensuring financial security, mitigating risks, and effectively assessing the impact of cryptocurrencies on Pakistan’s economy”, the Finance Division said.
In a post on X on Friday, Bilal said the council recognises Pakistan’s strong position as one of the top 10 nations globally in crypto adoption.
“Moving forward, it will be our priority to recognise crypto as a strategic asset, develop comprehensive and forward-thinking regulatory frameworks, and ensure compliance to position Pakistan as a leader in the digital financial revolution,” the post read.
He also wrote on a recent development in the United States (US) where President Donald Trump signed an executive order on Thursday to establish a strategic bitcoin reserve, a day before meeting with executives from the cryptocurrency industry at the White House.
“The US just made a historic Bitcoin move. The decision to establish a Bitcoin Strategic Reserve marks a pivotal moment for the global economy. It signals a shift in how nations perceive value, moving beyond traditional assets like gold and oil to embrace the digital future,” Bilal wrote.
He was of the view that the US recognition of Bitcoin as “digital gold” had highlighted the strategic advantage of being among the first countries to hold an official Bitcoin reserve.
“For the world, this decision brings greater legitimacy to crypto as a store of value, accelerates institutional adoption, and strengthens the foundation of the digital economy. It also sets a precedent for other nations to follow, reshaping the future of global finance.”
Last month, Finance Minister Muhammad Aurangzeb chaired a high-level meeting that was also attended by President Trump’s Advisors for Digital Assets.
In the meeting, they discussed the global evolution of cryptocurrency, its increasing adoption, and the regulatory frameworks being implemented internationally, in line with US government policies, the Finance Division said in a statement then.
“The deliberations focused on financial security, risk mitigation, and the potential impact of digital assets on Pakistan’s economy,” it said.
Aurangzeb emphasised the importance of a well-regulated digital asset framework, aligning Pakistan with international best practices and complying with Financial Action Task Force (FATF) guidelines, according to the statement.
“It was noted that various stakeholders, including foreign and domestic investors, have already developed product-ready digital asset solutions that could be explored within a regulatory sandbox.”
Pakistan currently has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees, as per the Finance Division.