Finance Minister Muhammad Aurangzeb on Tuesday emphasized the importance of a well-regulated digital asset framework, aligning Pakistan with international best practices in compliance with Financial Action Task Force (FATF) guidelines.
Presiding over a meeting on digital assets, he said the government was committed to exploring digital assets and integrating blockchain technology as part of its broader strategy to modernize the financial sector.
Participants of the meeting discussed the global evolution of cryptocurrency, its increasing adoption, and the regulatory frameworks being implemented internationally, in line with U.S. government policies. The deliberations focused on financial security, risk mitigation, and the potential impact of digital assets on Pakistan’s economy.
Aurangzeb noted that Pakistan currently has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees. The minister affirmed his commitment to regulating and encouraging this industry by adopting appropriate frameworks, laws, and incentives to ensure transparency and facilitate digital business growth.
During the meeting, the finance minister directed relevant stakeholders to formulate a comprehensive framework that ensures security, transparency, regulatory compliance, and economic viability while safeguarding against financial crimes and illicit activities. He also stressed on the need for a balanced approach that encourages innovation and investment in digital assets while maintaining strict regulatory oversight in line with international standards.
He indicated the government was considering establishing a National Crypto Council comprising key government representatives, regulatory authorities, and industry experts to oversee policy development, address regulatory challenges, and ensure that Pakistan’s digital asset ecosystem evolves in a secure, compliant, and sustainable manner. The council, he said, would also collaborate with friendly countries to develop standardized frameworks for international digital economic engagement.
The discussions also included the tokenization of key infrastructure and state-owned enterprises assets, allowing for increased liquidity, broader investor participation, and greater efficiency in capital markets. Participants noted that various stakeholders, including foreign and domestic investors, have already developed product-ready digital asset solutions that could be explored within a regulatory sandbox.
The meeting concluded with a consensus on adopting a cautious yet forward-looking approach, ensuring that future developments in the digital asset space align with national interests, FATF guidelines, and global financial standards.
Apart from the minister, foreign delegates, including President Trump’s advisors for digital assets. Minister of State for I.T. and Telecom Shaza Fatima Khawaja, State Bank governor, secretary Finance, and secretary I.T. and Telecom also attended the meeting.