Pakistan is actively working on a comprehensive regulatory framework for digital currencies that will be fully aligned with the global standards set by the Financial Action Task Force (FATF), according to Bilal Bin Saqib, Special Assistant to the Prime Minister (SAPM) on Blockchain and Crypto. Speaking during an interview on Geo News’ “Naya Pakistan,” Saqib emphasized the need for regulation to mitigate risks and unlock economic opportunities.
Saqib, who also serves as the Chief Executive Officer of the Pakistan Crypto Council (PCC), noted that the council has been tasked with designing the country’s crypto regulatory policy. He highlighted that cryptocurrencies can offer significant economic benefits, but warned that a lack of regulation could pose substantial financial and security risks.
“Not regulating crypto poses a major risk,” he said, adding that misconceptions about the criminal use of digital assets often overshadow the real data. Saqib pointed out that globally, only 0.024% of crypto transactions are linked to illicit activities, in contrast to cash, where the figure ranges between 2% and 4%.
He further stated that cryptocurrency-related money laundering is significantly lower compared to traditional fiat systems. Saqib noted a widening gap between policymakers and the younger, tech-savvy population that is already engaged in digital finance, stressing the need for inclusive policy-making to bridge this divide.
Clarifying the government’s financial strategy, Saqib said that public funds would not be used to purchase Bitcoin. Instead, the state would utilize Bitcoins already seized through law enforcement actions. These assets will be held in a newly introduced “Bitcoin National Wallet,” which will also serve as a channel for global donations aimed at supporting Pakistan’s economy.
Bitcoin mining in Pakistan, according to Saqib, will operate under a public-private partnership model. In this structure, the government will not directly fund mining operations but will facilitate them by offering electricity to investors. The revenue earned from mining, including the government’s share, will be deposited into the national wallet.
Saqib revealed that at least six countries have expressed interest in collaborating with Pakistan on this initiative. He said the government’s broader strategy is to “convert expenses into assets,” transforming underutilized infrastructure into productive digital ventures.
Countries such as Ethiopia, Bhutan, and the United States are already engaging in large-scale Bitcoin mining, Saqib added, citing them as examples of successful integration of cryptocurrency mining into national economies.
He also explained that electricity for mining will be supplied by the government but without a fixed tariff, suggesting that pricing and partnership terms will be negotiated on a case-by-case basis.
With a clear focus on transparency, global alignment, and economic modernization, Pakistan’s crypto regulatory initiative represents a significant pivot toward embracing blockchain and digital finance technologies on a national scale
The remarks come on the heels of the government’s recent announcement to allocate 2,000 megawatts of electricity for Bitcoin mining and AI data centers as part of the first phase of a broader digital transformation strategy. Finance Minister Muhammad Aurangzeb had stated that Pakistan’s surplus power generation is being redirected into digital asset creation to add value to the national economy.
