Pakistan views Bitcoin and digital assets as essential for establishing a new financial framework for its 240 million citizens, a senior official stated at the Bitcoin MENA Conference, indicating a shift toward formal crypto market regulations.
Bilal Bin Saqib stated on Tuesday that Pakistan must move beyond traditional economic models and embrace “a new engine,” referring to digital assets. During a roundtable in Abu Dhabi, he remarked:
“We regard Bitcoin, digital assets, and blockchain not merely as speculative assets but as integral infrastructure. They serve as a cornerstone for a new financial system for the global south.”
Saqib, chairman of Pakistan’s Virtual Asset Regulatory Authority (PVARA) and former advisor to the prime minister on blockchain and crypto, emphasized his mission to convert one of the largest unregulated crypto markets into a compliant, investment-friendly environment.
He contended that with a young population—70% of the country is under 30—Pakistan has the capacity to cultivate a regulated crypto ecosystem instead of remaining a “late adopter.”
“My message is straightforward,” he declared. “If El Salvador can achieve this with 6 million people, think about what Pakistan can accomplish with 40 times the population and one of Asia’s fastest-growing digital landscapes.”
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The rise of crypto adoption in Pakistan
Pakistan has risen to become one of the world’s fastest-growing crypto markets, moving up six spots to take third place in Chainalysis’ 2025 Global Crypto Adoption Index.
In May, Saqib revealed that the country is set to create a strategic Bitcoin (BTC) reserve and is leaning towards more supportive regulatory policies for crypto.
That same month, Pakistan designated 2,000 megawatts of surplus electricity for Bitcoin mining and AI data centers as part of a national digital transformation initiative. Financial authorities indicate that this strategy aims to attract foreign investment and foster new high-tech employment by redirecting excess power into AI and crypto infrastructures.
In September, Pakistan called upon global crypto firms to apply for licenses under its new federal regulatory framework. The PVARA requested expressions of interest from leading exchanges and service providers looking to enter the market.
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