ISLAMABAD: The Pakistan Crypto Council (PCC) will hold a high-level meeting on June 2 to lay the foundation for a comprehensive regulatory framework for digital assets in the country, the Ministry of Finance announced in a press release.
The meeting will be chaired by Finance and Revenue Minister Senator Muhammad Aurangzeb and will include participation from Bilal Bin Saqib, Special Assistant to the Prime Minister on Blockchain and Crypto, who also serves as CEO of the PCC.
According to the ministry, a central focus of the agenda will be the initial planning and groundwork for the Pakistan Virtual Assets Regulatory Authority (PVARA) — a proposed autonomous body intended to regulate and supervise the digital finance and cryptocurrency sector in line with international standards.
“The Council aims to create a secure, transparent, and innovation-friendly regulatory environment to encourage responsible blockchain adoption, protect investors, and boost financial inclusion,” the statement read.
The upcoming meeting is seen as a key step in the government’s strategy to develop a modern, future-ready financial infrastructure while maintaining regulatory oversight and financial stability in the growing digital economy.
Established in March, the PCC was tasked with integrating blockchain and digital assets into Pakistan’s financial landscape. Its formation marks a shift toward formal recognition and regulation of the crypto sector.
However, despite these developments, the federal government recently informed the National Assembly’s Standing Committee on Finance that cryptocurrencies remain banned and illegal in Pakistan.
In a parallel development, PCC CEO Bilal Bin Saqib this week unveiled Pakistan’s first government-led Strategic Bitcoin Reserve, marking a significant milestone in the country’s digital financial strategy.
Speaking to an international audience — including U.S. Vice President JD Vance, Eric Trump, and Donald Trump Jr. — Saqib positioned Pakistan as a rising hub for digital innovation, led by its young, tech-literate population and a growing pivot toward decentralized finance.
He clarified that the reserve is not intended for speculation or trading but will function as a sovereign asset, underscoring Pakistan’s long-term commitment to blockchain-based finance. The national Bitcoin wallet is already operational and holds assets under state custody.
Pakistan currently ranks among the top 10 countries globally in crypto adoption, with over 20 million active users and more than $20 billion in transactions. The country also processes around $35 billion in annual remittances, making it well-positioned to benefit from blockchain-driven financial innovation.
