Bilal Bin Saqib, Chief Executive Officer of the Pakistan Crypto Council (PCC), recently met with prominent US senators Bill Hagerty and Rick Scott in New York, marking a significant step in Pakistan’s efforts to align its digital finance policies with global standards. This high-profile engagement highlights Pakistan’s growing involvement in the international crypto policy arena and its ambitions to foster an innovation-friendly regulatory framework for digital assets.
During the meetings, PCC emphasized its goal to develop a regulatory environment in Pakistan that is inclusive, globally aligned, and supportive of innovation. These discussions came at a time when the US is advancing progressive legislation in the digital finance space. Senator Bill Hagerty, a strong advocate for responsible financial innovation, is the lead sponsor of the GENIUS Act of 2025 (Guiding and Establishing National Innovation for US Stablecoins). The act proposes a comprehensive regulatory framework for payment stablecoins, focusing on financial inclusion, guaranteeing 1:1 asset backing, and strengthening US leadership in digital currency governance.
Senator Rick Scott, known for his commitment to privacy and digital freedom, co-sponsored the CBDC Anti-Surveillance State Act. This bill aims to prevent the issuance of a central bank digital currency (CBDC) directly to individuals, emphasizing the protection of civil liberties and the prevention of state overreach in digital financial solutions. These legislative initiatives in the US serve as important models for emerging markets like Pakistan, which is actively exploring the integration of digital assets within its financial ecosystem.
Pakistan receives over $36 billion annually in remittances, and the country sees substantial potential in stablecoins to reduce transfer costs, enhance transparency, and increase financial access for its underbanked population. Bilal Bin Saqib highlighted the value of clear regulatory frameworks like the GENIUS Act in guiding Pakistan’s evolving crypto regulations.
Back home, Pakistan is rapidly moving towards formalizing its digital asset market, estimated to have an annual crypto trading volume exceeding $300 billion. In a high-level meeting at General Headquarters, Chief of Army Staff Field Marshal Asim Munir discussed the strategic potential of blockchain, cryptocurrency, and artificial intelligence with PCC CEO Bilal Bin Saqib. The conversation centered on leveraging emerging technologies to empower Pakistan’s youth and strengthen economic resilience.
Bilal Bin Saqib underscored that the PCC was established because Pakistan’s youth demand participation in the global technology arena. He emphasized that digital finance and decentralization should be viewed as opportunities rather than threats. The meeting reflects a broader shift in Pakistan’s leadership towards embracing tech-led economic growth, particularly given the country’s demographic advantage—with over 70% of its 240 million population under the age of 30.
Complementing these efforts, the Ministry of Finance announced the formation of the Pakistan Digital Assets Authority (PDAA), a dedicated regulator tasked with overseeing blockchain infrastructure and virtual asset regulation. Finance Minister Muhammad Aurangzeb stated that the PDAA would create a secure, innovative, and inclusive ecosystem for virtual assets, positioning Pakistan as a regional leader in blockchain and digital finance.
The new regulatory body will also facilitate the tokenization of public assets and government debt, enable regulated Bitcoin mining using surplus electricity, and provide legal clarity for global investors. These initiatives reflect Pakistan’s urgent drive to harness blockchain and digital finance technologies as pillars of its future economic development.
With its rapidly growing digital ecosystem, rising crypto adoption rates, and a large pool of IT graduates entering the workforce, Pakistan is poised to become a key player in the global digital finance landscape. Bilal Bin Saqib’s engagement with US policymakers reinforces the country’s commitment to building a robust and forward-thinking regulatory framework that supports innovation while safeguarding financial integrity.
