Pakistan, the world’s fifth most populous country, is developing a clear regulatory framework to legalize cryptocurrency trading. The government aims to attract foreign investment and expand the country’s digital ecosystem.

This decision signals a major shift in how the government regulates crypto.

What Is the Current State of Crypto Adoption in Pakistan?

Pakistan wants to create clear rules for digital assets to strengthen its local crypto ecosystem. Bilal bin Saqib, CEO of the Pakistan Crypto Council, explained this in an interview with Bloomberg TV.

He estimated that 15 to 20 million Pakistanis use cryptocurrency, making up about 8% of the population.

“Our message is clear – Pakistan is done sitting on the sidelines! We want Pakistan as the leader in blockchain-powered finance. Pakistan is a low-cost high-growth market with 60% of the population under 30. We have a web3 native workforce ready to BUIDL.” Saqib said.

The government launched this initiative shortly after appointing Saqib as Chief Advisor to the Finance Minister on digital asset management in early March 2025. He also advises on artificial intelligence (AI) applications to improve government efficiency, enhance decision-making, and drive public sector innovation.

Several Asian nations have started embracing cryptocurrency, and Pakistan is following this trend. US President Donald Trump’s pro-crypto policies have influenced this regional shift.

“Trump is making cryptocurrency a national priority, and every country, including Pakistan, must keep up with this trend,” Saqib said.

In March 2025, the Pakistani government announced the creation of the Pakistan Crypto Council (PCC) to oversee the integration and use of blockchain technology and digital assets in the financial sector.

Finance Minister Muhammad Aurangzeb leads the council, working alongside the Governor of the State Bank of Pakistan and the Chairman of the Securities and Exchange Commission of Pakistan (SECP). PCC aims to develop clear regulatory guidelines for cryptocurrency adoption, collaborate with international organizations, and promote responsible innovation.

However, Pakistan has taken different positions on crypto regulation over the years. In 2023, Finance Minister Aisha Ghaus Pasha insisted that cryptocurrency “would never be legalized” due to restrictions from the Financial Action Task Force (FATF). This international organization demanded that Pakistan tighten financial controls to avoid placement on the “gray list” for money laundering and terrorist financing risks.

Despite this previous opposition, the government has recently adopted a more pragmatic approach. Instead of banning cryptocurrency, officials are working on a strict regulatory framework. The plan focuses on anti-money laundering (AML) and counter-terrorism financing (CTF) measures while protecting investors and integrating cryptocurrency into the formal economy.

The “2024 Global Adoption Index” by Chainalysis ranked Pakistan ninth worldwide in crypto adoption. The country also holds the fifth spot in the Central & Southern Asia and Oceania (CSAO) region, with over $30 billion in remittances flowing through digital assets.