Bilal Bin Saqib, the Chief Executive Officer of Pakistan’s Crypto Council, suggested utilizing the country’s surplus energy for Bitcoin (BTC) mining during the council’s first meeting held on March 21.
As reported, the council is in the process of examining detailed regulatory frameworks for cryptocurrencies, aiming to attract foreign investment and position Pakistan as a central hub for crypto activities.
The meeting brought together legislators, the governor of the Bank of Pakistan, the chairman of the country’s Securities and Exchange Commission, along with the federal secretary for information technology. Senator Muhammad Aurangzeb commented on the gathering:
“This marks the start of a new digital era for our economy. We are dedicated to creating a transparent, future-oriented financial environment that attracts investments, empowers our youth, and showcases Pakistan as a leader in emerging technologies on the global stage.”
The formation of the Crypto Council signifies a significant shift from the government’s earlier approach toward cryptocurrencies. Back in May 2023, the former state minister for finance and revenue, Aisha Ghaus Pasha, declared that cryptocurrencies would never gain legal status in the nation.
Pasha pointed to anti-money laundering regulations imposed by the Financial Action Task Force (FATF) as the key reason behind the government’s negative stance on crypto.
Bitcoin miners can provide stability to electrical grids. Source: Science Direct
Related: Pakistan seeks a legal framework for cryptocurrencies to enhance foreign investment
Pakistan aligns with the United States in adopting crypto
The Pakistani government took steps to manage cryptocurrencies as legal currency on November 4, 2024 — coinciding with the day of elections in the United States.
In the aftermath of Donald Trump’s re-election and his inauguration on January 20, the administration rapidly advanced pro-crypto policies at the federal level.
On January 23, an executive order was signed by President Trump to create the Working Group on Digital Assets — an advisory council focused on exploring comprehensive regulatory reform regarding digital assets.
President Trump signs an order to establish the President’s Working Group on Digital Assets. Source: The White House
The January 23 order also banned any government efforts towards researching, developing, or issuing a central bank digital currency (CBDC).
Additionally, in March 2025, President Trump executed an order to create a Bitcoin strategic reserve and a separate digital asset stockpile likely to include cryptocurrencies from US firms.
Magazine: How crypto regulations are evolving globally in 2025