Pakistan plans to create a legal framework for the crypto to try to attract international investors in the country in Central Asia.
“Pakistan is done sitting on the sides; we want to have the clarity of regulation; we need to have a legal pro-business plot,” CEO of Pakistan Crypto Council Bilal bin saqib said Bloomberg on March 20.
“We want Pakistan as a finance leader powered by the blockchain, and we want to attract international investment,” he added. “Sixty percent of the population is under 30 (years old), we have a web3-native worker who is ready to build.”
Earlier this month, Saqib was named chief advisor to Pakistan finance minister for Management of cryptocurrencies.
Blockchain analytics firm Chainalysis ranked in Pakistan ninth for crypto adoption last year, and Saqib claimed that up to 20 million Crypto users of Pakistan.
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He called US President Donald Trump “the largest bullish catalyst for crypto in history.” Trump moved to create a Bitcoin reserve and crypto stockpile using digital assets that were forgiven to the government.
“Trump makes crypto a national priority, and every country, including Pakistan, needs to follow the suit or at risk to be left behind,” Saqib said.
Saqib was appointed CEO of the Pakistan Crypto Council on March 14 of the current Pakistan government’s Finance Division. “It’s just the beginning. Pakistan is open for business,” he Says At the time.
According to Saqib, the development of countries such as Pakistan and Nigeria will benefit from the adoption of blockchain and crypto. She is Says:
“By seizing the blockchain for remittances and trade, both countries can reduce the hope of traditional banking, lower 5-9% fees, and create cross-border payment seamless networks.”
