Pakistan Officially Launches Crypto Council to Accelerate Digital Transformation

The federal government has officially launched Pakistan Crypto Council (PCC) in a bid to accelerate digital transformation, according to a notification issued by the Finance Division.

The federal government has officially launched the Pakistan Crypto Council (PCC) to accelerate digital transformation.

A notification issued by the Finance Division announced the formation of the Pakistan Crypto Council, a high-level panel of members tasked with shaping the nation's digital financial future.

The council's composition includes:

Chairman: Minister for Finance and Revenue

Member: Governor, State Bank of Pakistan

Member: Federal Secretary, Law and Justice Division

Member: Federal Secretary, IT

Member: Chairman, Securities and Exchange Commission of Pakistan

The council has appointed Bilal Bin Saqib as its chief executive officer, signaling a commitment to integrating cryptocurrency and blockchain technology into the nation's financial ecosystem.

Last week, Saqib was appointed as the chief adviser to the finance minister on the Pakistan Crypto Council to reaffirm Pakistan's commitment to embracing technological advancement.

This appointment aims to ensure sound policy measures that support the national economy, digital transformation, and a secure, transparent financial system for all.

Pakistan, a country that ranked 3rd in the Global Crypto Adoption Index, has 20 million active crypto currency users and $20bn + in crypto transactions.

Currently, the country ranks in the top 10 in terms of crypto adoption. With $35bn in annual remittances, the country is poised to benefit from crypto adoption.

The formal establishment of the Pakistan Crypto Council underscores Pakistan's strategic alignment with the global cryptocurrency revolution.

This initiative will position Pakistan at the forefront of digital financial innovation, paving the way for a secure, transparent, and dynamic digital ecosystem.