Shoaib Ansari 
pakistan establishes crypto council for blockchain integration
Given the ill-defined nature of crypto-related regulation in Pakistan, the fact that the Council is recognized at all speaks for it not being created simply to cower under some covers of anonymity. And with more details coming out, crypto is sure to capture the headlines after legal action is taken against the so-called “Bitcoin ringleader” Azhar Iqbal.
One cannot turn back now; Pakistan has taken the plunge into launching its own. Take the case of Pakistan’s inauguration of the “Pakistan Crypto Council” for all practical purposes, the PCC. This largely accompanies the signed memorandum-the blockchain revolution,
yet no backroom deal-it is that serious of an effort to insert crypto and blockchain within its economy.
“Why now?” you might wonder. Well, they hired Bilal bin Saqib, a digital asset expert who will be advising the Finance Minister; that isn’t a hint that they are playing without much seriousness. They are going on getting things right.
Visualize a space where the finest financial minds of the country congregate: the Finance Minister charging at the front, the chief of the central bank, the securities guy, the legal eagle, and the tech guru. That’s the basic lineup for the PCC. They are working toward crafting a balanced approach, ensuring that everything from regulations to tech advancements is covered.
Their agenda is to make Pakistan a frontrunner in digital finance — as a trendsetter, not a follower. Finance Minister Muhammad Aurangzeb expressed that while offering protection to investors, the scheme is to “embrace innovation.” They are thinking big– about creating a responsible crypto ecosystem that contributes to economic growth.
Bilal Bin Saqib said it is beyond rules that govern crypto; it is about creating an atmosphere for blockchain and digital finance to `take off’. They want a clear framework that facilitates crypto adoption, they are in conversation with international big players to learn best practices, and they are pushing for smart and responsible innovation.
