Pakistan Aims to Lead in Blockchain Finance with Crypto Regulations

Pakistan is developing a legal framework for cryptocurrencies to attract international investment and become a leader in blockchain finance, according to Bilal Bin Saqib, CEO of the Pakistan Crypto Council. Speaking on March 20, Saqib stated Pakistan aims to move from the sidelines and establish pro-business regulations. Chainalysis ranked Pakistan ninth in crypto adoption last year, estimating up to 20 million Pakistani crypto users. Saqib, appointed chief advisor to Pakistan's finance minister earlier in March, also noted the potential for developing nations like Pakistan to benefit from blockchain for remittances and trade, reducing reliance on traditional banking and lowering fees.