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Pakistan aims to develop a clear regulatory framework for the management of digital asset activities to enhance the local ecosystem, says Bilal bin Sakib, CEO of the Chefir Pakistan Council, in an interview.
On March 14, 2025, Pakistan has officially launched the National Council for Curding to organize and integrate Blockchain technology and digital assets in the country’s financial system. (Shutterstock)
While the country’s economy is begging with enormous debts, Pakistan plans to legitimize the cryptocurrency in order to attract international investments. According to Bloomberg Report, Pakistan aims to create a legal framework for cryptocurrency trading.
“The country aims to develop a clear regulatory framework for the management of digital assets to enhance the local ecosystem,” Bilal Bin Sakib, CEO of the Pakistan Cheap Council, told Bloomberg TV in an interview.
He said that Pakistan was no longer standing. “We hope to attract international investment because Pakistan is a low -cost and high -growth market with 60 % of the population under the age of 30. We have a local workforce ready to build Web3.”
“Trump makes the coded currency a national priority, and every country, including Pakistan, will have to follow its example,” Sakb added.
Pakistan Exposion Council for Cryotation Management Management
On March 14, 2025, Pakistan has officially launched the National Council for Curding to organize and integrate Blockchain technology and digital assets in the country’s financial system. This came after the appointment of Sakb as the chief adviser to the Minister of Finance, Mohamed Orangen, to manage digital assets.
Headed by Finance Minister Mohamed Uranzib, the Pakistan Exodation Council (PCC) will organize, integrate and integrate innovations into the economic framework in Pakistan.
The leadership of the Council includes major numbers such as the ruler of the State Bank in Pakistan, the head of the Securities and Stock Exchange Committee in Pakistan, Federal Law and IT Secretaries.
A statement issued by the Finance Department on Friday described the formation of the council as an important step in the country’s efforts to adopt digital financing, and put it as a major player in the global shift towards Blockchain technology.
The size of the encrypted currency market in Pakistan
Currently, there are about 15 million to 20 million users of cryptocurrency in Pakistan, Sakib said.
According to negative analysis, the country of South Asia is the ninth in the world in terms of the adoption of the cryptocurrency.
What is the legal status of the cryptocurrency in India?
Currently, cryptocurrencies in India are not recognized as a legal tender, but a law is allowed to trade and invest in digital assets such as Bitcoin and Ethereum. The Indian Reserve Bank (RBI) imposed a bank ban on cryptocurrencies in 2018, which was canceled by the Supreme Court in March 2020, allowing banks to provide services to exchange encrypted currency. The Ministry of Finance provided a 30 % tax on income from encrypted currency transactions, along with a 1 % tax deducted in the source (TDS) on transactions exceeding 50,000 rupees annually.
However, reports indicate that India has declined its approach to organizing encrypted currency. A senior government official told Reuters in February that the conversion of global positions, including the policies of American leaders, may affect the following steps for India. This re -evaluation can delay the launch of a student discussion paper for a long time about the cryptocurrency, which was originally expected in September 2024.
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