A senior official at the Bitcoin MENA Conference indicated that Pakistan views Bitcoin and digital assets as essential for establishing a new financial framework for its 240 million citizens, marking a move towards formal crypto market regulation.
Bilal Bin Saqib stated on Tuesday that Pakistan must pivot from traditional economic strategies and adopt “a new engine,” highlighting the significance of digital assets. During a roundtable in Abu Dhabi, he remarked:
“We consider Bitcoin, digital assets, and blockchain as more than mere speculation; they are infrastructure. They represent not noise, but the foundation of a new financial system for the global south.”
Saqib, who chairs Pakistan’s Virtual Asset Regulatory Authority (PVARA) and is a former special assistant to the prime minister on blockchain and crypto, expressed his goal to transition one of the world’s largest unregulated crypto markets into a compliant, investment-ready environment.
He asserted that with 70% of Pakistan’s population under 30, the country has the potential to develop a regulated crypto ecosystem and should not remain a “late adopter.”
“My message is straightforward,” he said. “If El Salvador can do it with 6 million people, think about what Pakistan could accomplish with a population 40 times larger and one of the fastest-growing digital sectors in Asia.”
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The rise of crypto adoption in Pakistan
Pakistan has become one of the fastest-growing crypto markets globally, improving its position by six spots to rank third in Chainalysis’ 2025 Global Crypto Adoption Index.
In May, Saqib revealed plans for the country to set up a strategic Bitcoin (BTC) reserve, moving towards more pro-crypto regulations.
In that same month, Pakistan allocated 2,000 megawatts of surplus electricity for Bitcoin mining and AI data centers, as part of its national digital transformation initiative. Financial authorities indicate this strategy is designed to attract foreign investment and foster new high-tech employment by utilizing excess energy for AI and crypto infrastructure.
In September, Pakistan encouraged global crypto companies to apply for licenses under its new federal regulatory framework. The PVARA called for expressions of interest from major exchanges and service providers aiming to penetrate the market.
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