- Pakistan moves toward digital asset regulation with plans to establish a National Crypto Council.
- Legalizing crypto could boost Binance adoption, benefiting P2P traders and the broader crypto economy.
Pakistan’s Finance Ministry is considering the establishment of a National Crypto Council to explore the legalization and regulation of cryptocurrencies. This policy shift follows recommendations from the IMF, which urged Pakistan to expand its tax net to cover crypto assets. According to a 2024 CNF report, real estate investments in the country also saw an increase in revenue due to economic shifts.
A high-level meeting chaired by Finance Minister Muhammad Aurangzeb on February 25, 2025, included foreign delegates such as Gentry Beach Jr., a business associate of U.S. President Donald Trump.
According to a tweet by TechJuice, top government experts are now discussing robust digital asset regulation and blockchain innovation in alignment with Financial Action Task Force (FATF) guidelines.
Pakistan is considering a National Crypto Council. Top government experts are discussing robust digital asset regulation and blockchain innovation in line with FATF guidelines. Link: https://t.co/spznYQ4jFD #PakistanCrypto #DigitalAssets #CryptoRegulation #Blockchain #FATF pic.twitter.com/y4MzTqEYJj
— TechJuice (@TechJuicePk) February 26, 2025
The proposed council aims to serve as a dedicated advisory body comprising government representatives, regulatory authorities, and industry experts.
Its primary responsibilities would include overseeing policy development, addressing regulatory challenges, and ensuring a secure and sustainable digital asset ecosystem in Pakistan.
Addressing Challenges for Crypto Users
With over 20 million active cryptocurrency users, Pakistan faces significant challenges such as high transaction fees and regulatory uncertainty. Finance Minister Aurangzeb has directed stakeholders to develop a comprehensive regulatory framework that ensures security, transparency, regulatory compliance, and economic viability for crypto transactions.
Historically, Pakistan’s government and the State Bank of Pakistan (SBP) have opposed cryptocurrencies. In May 2023, then-Minister of State for Finance Aisha Ghaus Pasha stated that crypto would never be legalized, citing concerns over FATF guidelines.
Global Context and Future Outlook
Pakistan’s move aligns with global trends, as the U.S., European nations, and the UAE have begun regulating cryptocurrencies to boost innovation while ensuring consumer protection. The proposed National Crypto Councilsignals Pakistan’s commitment to embracing digital assets, balancing regulatory oversight with economic growth and blockchain innovation.
Since Pakistani crypto users primarily rely on peer-to-peer (P2P) trading on Binance, due to banking restrictions on direct crypto transactions, legalizing crypto in Pakistan could significantly increase Binance adoption. This may lead to higher demand for BNB for trading fees, payments, and DeFi services.
At the time of writing, BNB is trading at approximately $571.93, reflecting a 7.07% decrease in the past day.
