Bilal Bin Saqib, CEO of Pakistan’s Crypto Council, has suggested using the country’s excess energy for Bitcoin mining, introducing this proposal at the Council’s inaugural meeting on March 21. The newly established Crypto Council aims to develop a comprehensive cryptocurrency regulatory framework, attracting foreign investment and positioning Pakistan as a hub for crypto innovation, as reported by The Nation.
Top Pakistani officials, including lawmakers, the Governor of the Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan, and the Federal IT Secretary, participated in the meeting to shape a national blockchain strategy. Senator Muhammad Aurangzeb emphasized the country’s commitment to building a transparent and future-ready financial ecosystem that attracts investment and empowers the youth, highlighting Pakistan’s potential as a leader in emerging technologies.
This formation of the Crypto Council marks a significant policy shift. In May 2023, former Minister of State for Finance and Revenue Aisha Ghaus Pasha stated cryptocurrencies would never be legalized in Pakistan, citing anti-money laundering concerns. However, the government’s stance changed significantly, and on November 4, 2024, Pakistan moved to regulate cryptocurrencies as legal tender.
The shift coincided with Donald Trump’s re-election and his administration’s pro-crypto policies. On January 23, 2025, President Trump established the Working Group on Digital Assets and banned federal efforts to explore or implement a central bank digital currency. In March, he directed the creation of a Bitcoin strategic reserve and a broader digital asset stockpile focusing on tokens developed by U.S. firms.
Pakistan’s Finance Ministry is considering formal cryptocurrency regulation, marking a significant departure from the country’s historically cautious stance on digital assets. In a recent meeting with an international delegation focused on crypto investment and blockchain development, Aurangzeb stressed the importance of exploring the potential of the sector. The delegation included notable figures like investor Gentry Beach Jr., tech entrepreneur Nikita Goldsmith, blockchain consultant Alex Malkov, and Cosmic Wire CEO Jerad Finck. The proposed National Crypto Council would serve as a government advisory body, bringing together regulators, policymakers, and industry stakeholders to guide the development of cryptocurrency and blockchain regulations.
On Twitter, Bilal Bin Saqib highlighted Pakistan’s demographic potential for crypto adoption, noting that 60% of the country’s 240 million population is under 30, with over $20 billion in crypto transactions in 2021, ranking third in the adoption index, and more than $30 billion in annual remittances.
