Urooj Niazi 
pakistan is launching its own digital currency
Pakistan to launch digital currency pilot initiative soon
The State Bank of Pakistan (SBP) is preparing to start testing a new digital currency in the country. Governor Jameel Ahmad announced during the Reuters NEXT Asia summit held in Singapore that the SBP is trying to create a digital currency system and will soon start pilot testing. To facilitate this, the SBP is also completing new legislation that will regulate and control digital and virtual assets such as cryptocurrency. The legislation will specify how virtual assets can be used, who can provide services, and what the regulations will be. New Law Related to Virtual Assets.
The new law, referred to as the Virtual Assets Act, 2025, has received approval from the entire government, including the Federal Cabinet, the Prime Minister, and President Asif Ali Zardari, and will provide a legal framework for licensing and regulating virtual assets in Pakistan. Balancing Risks and Benefits Governor Ahmad also stressed that although the world of digital finance involves certain risks, it also comes with major benefits.”Pakistan needs to be knowledgeable to make sure we can reap the benefits of digital finance, but we also should not be scared of getting involved,” he said. The SBP is working closely with technology partners to potentially ensure a great transition as Pakistan moves to a fully digital environment. This clearly shows Pakistan is making bold steps to adapt to the global movement towards digital banking and finance, and making the transition in a blended and precautionary manner.
