The Ministry of Finance of Pakistan is considered to be forming a “National Council of Crypto” to explore the legalization of cryptocurrencies in the country, According to In a report from the local publication Dawn. The change in position came after financial minister Muhammad Aurangzeb had a meeting with digital assets with a foreign delegation with President Donald Trump’s advisors.
According to the report, the Crypto Council is made up of major government representatives, regulation authorities and industry experts. It will guard the policy development, address regulation challenges, and ensure that the country’s crypto ecosystem changes in a sustainable and safe way.
Pakistan has more than 20 million residents involved in crypto, but they face important challenges, including high transaction fees. Aurangzeb has appointed stakeholders to create a framework that will ensure economic ability and regulatory compliance while protecting against financial crimes and forbidden activities.
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Pakistan’s initial transfer to legalize cryptocurrency are consistent with global trends. The United States, EuropeThe United Arab Emirates and other countries have taken preliminary measures in the last year to increase industrial regulation, which may increase change while improving consumer protection.
In recent years, the Ministry Ministry and State Bank of Pakistan opposed the idea of cryptocurrencies. Aisha Ghaus Pasha, a previous Minister of Pakistan State for Finance and Revenue, said the cryptocurrencies will never be legal in the country and that is the bank of the state sought to prohibit all cryptocurrencies In January 2022.
However, the financial minister Aurangzeb asked authorities to approach the legalization and regulation of crypto in the country with “an open mind.” In November 2024, the State Bank of Pakistan announced a package of proposals That will pave the way for a central digital bank money, or CBDC, and the purchase, sale and trade of the crypto.
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According to Dawn, the foreign delegation who met in Aurangzeb was with Gentry Beach Jr., a business companion of President Trump; Nikita Goldsmith, a tech businessman; Alex Malkov, a consultant for blockchain firms; and Jerad Finck, CEO of Cosmic Wire. The delegation’s visit was not announced by the US Embassy.
The Trump administration worked to change the tone surrounding crypto in the United States, overlapping the Crypto arm of US Securities and Exchange CommissionSelect David sacks as a crypto czar and forms a committee to explore the possibility of Creates a national digital asset stockpile. President Trump made many promises in the crypto community while campaigning and even launched his own memecoin.
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