Pakistan plans to create legal framework for cryptocurrency trading to attract international investment

Odaily Planet Daily News Bilal bin Saqib, CEO of the Pakistan Crypto Council, said in an interview that the country aims to develop a clear regulatory framework to manage digital asset activities to promote the development of the local ecosystem. Saqib pointed out that he hopes to make Pakistan the cryptocurrency capital of South Asia, competing with Dubai, Singapore and Hong Kong, China for leadership in the blockchain field. The legalization plan came after Saqib was appointed as the chief adviser to the Minister of Finance for digital asset management earlier this month. He will also provide advice on exploring the use of artificial intelligence to improve government efficiency, optimize decision-making processes, and promote innovation in public sector operations. "Trump is making cryptocurrency a national priority, and every country, including Pakistan, will have to follow suit," Saqib said. According to Chainalysis data, Pakistan ranks ninth in the world in terms of cryptocurrency adoption. Saqib mentioned in the interview that there are about 15 million to 20 million cryptocurrency users in Pakistan. (Bloomberg)