Islamabad: Pakistan’s government signaled strong commitment to digital asset regulation during a high-level meeting with Binance executives. Prime Minister Shehbaz Sharif and Field Marshal Syed Asim Munir attended the meeting, emphasizing the country’s focus on secure digital finance. The discussion included key steps to regulate virtual assets while promoting innovation and protecting Pakistani users.
Binance’s global CEO Richard Teng led the delegation and met with Pakistan’s top leadership in Islamabad. Bilal bin Saqib, chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), briefed officials on regulatory progress. The meeting followed a consultative session at the Finance Division on Pakistan’s National Digital Asset Framework. Officials stressed responsible operation of on- and off-ramp infrastructure, enhanced compliance, and stronger integration with financial institutions.
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Governor of the State Bank of Pakistan, leading commercial bank executives, and Binance leadership reviewed digital asset strategies. The session emphasized transparency, market integrity, and alignment with global anti-money laundering standards. Senator Muhammad Aurangzeb noted that regulated adoption would strengthen financial visibility without granting legal tender status.
The discussion also covered licensing regimes for Virtual Asset Service Providers to attract institutional investment. Officials aimed to reduce risks from unregulated offshore platforms while improving national asset reporting. Integration of citizen-held virtual assets into formal monitoring structures was highlighted as an economic opportunity.
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Despite resigning as Special Assistant to the Prime Minister, Bilal bin Saqib continues as PVARA chairman. Saqib stepped down after a few months in office but remains responsible for overseeing Pakistan’s virtual assets sector. His continued role ensures continuity in implementing the country’s digital asset regulatory vision.