Pakistan aims to legalize crypto to attract global investments
- Pakistan's chief adviser on crypto, Bilal Bin Saqib, announced the country's plan to legalise cryptocurrency.
- The aim is to establish a regulatory framework that promotes digital asset activities to attract investors.
- This move comes as Pakistan positions itself as a low-cost, high-growth market for international investment.
Pakistan is moving forward with plans to legalize cryptocurrency, aiming to attract international investment to the nation. Bilal Bin Saqib, the chief adviser to the finance minister of the Pakistan Crypto Council, announced this initiative, emphasizing the need for a structured regulatory framework to support digital asset activities. The push for regulation emerged from the recognition of Pakistan's potential as a low-cost, high-growth market, with over half of its population under the age of 30. The finance ministry's announcements included the consideration of establishing a National Crypto Council, set to oversee policy development and address regulatory challenges in the crypto space. The establishment of a regulatory framework for cryptocurrencies reflects a broader shift in global perspectives on digital assets. With the rise of cryptocurrency's popularity and its economic implications, leading countries, including the United States under former President Donald Trump, are taking proactive steps to incorporate digital currencies into their economies. Saqib noted that international cooperation would be essential, as the council plans to collaborate with friendly nations to develop standardized frameworks for digital economic engagement. This initiative by Pakistan comes at a time when the country is keen to position itself as a player in the digital economy. Saqib stated that Pakistan has a