Bilal Bin Saqib, the Chief Executive Officer of the Pakistan Crypto Council (PCC), has stepped down from his role as special assistant to the Prime Minister on blockchain and cryptocurrency, it emerged on Tuesday. The Cabinet Division issued a notification, signed on October 13, stating that Prime Minister Shehbaz Sharif accepted Saqib’s resignation from the position, effective August 21.
Saqib will continue to serve as the chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), a role he was appointed to on August 1 with the status of a minister of state on a pro bono basis for three years. PVARA operates as an autonomous federal body governed by a multi-stakeholder board, which includes the governor of the State Bank of Pakistan, the chairman of the Securities and Exchange Commission of Pakistan, and the chairman of the Federal Board of Revenue. The authority’s mandate focuses on curbing illicit finance, protecting consumers, and unlocking opportunities in fintech, remittances, and tokenized assets while fostering Shariah-compliant innovation through regulatory sandboxes.
Saqib was originally appointed as special assistant to the Prime Minister on May 26, also with the status of a minister of state. His tenure in this advisory role lasted for several months before his resignation was accepted.
In addition to his government roles, Saqib has gained recognition internationally. Forbes included him in its ‘30 under 30’ list, highlighting his work as the cofounder of Tayaba, a social enterprise addressing Pakistan’s water crisis. Furthermore, Saqib was awarded the Member of the Most Excellent Order of the British Empire (MBE) in 2023 for his significant contributions to the United Kingdom’s National Health Service. The MBE is a prestigious award given for outstanding achievements or service to the community that has a long-term, meaningful impact.
Saqib’s continued leadership at PVARA ensures that Pakistan’s digital asset and blockchain regulatory framework remains under experienced guidance. Under his stewardship, PVARA aims to drive innovation in digital finance while maintaining a secure and compliant environment for virtual assets. The authority plays a crucial role in supporting fintech development, implementing regulatory standards, and creating opportunities for Shariah-compliant investment solutions.
Saqib’s departure from the Prime Minister’s advisory role comes at a time when Pakistan is actively developing its regulatory framework for blockchain and cryptocurrencies. His ongoing position at PVARA will continue to influence policy, consumer protection, and the promotion of responsible digital finance initiatives in the country.
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