Pakistan establishes Cryptocurrency Commission to regulate blockchain and digital assets

According to Cryptoslate, the Pakistani government has established the Pakistan Cryptocurrency Commission (PCC) to oversee the integration and use of blockchain technology and digital assets in the country's financial sector. The PCC's agenda includes developing clear regulatory guidelines for cryptocurrency adoption, collaborating with international cryptocurrency and blockchain organizations, and promoting responsible innovation. The committee will also focus on consumer protection and financial security through a sound legal and compliance framework. Finance Minister Muhammad Aurangzeb will serve as the chairman of the committee, leading a diverse committee that includes senior officials from major financial and regulatory agencies. The leadership is composed of the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Federal Minister of Law and Information Technology, with the aim of ensuring a comprehensive approach to regulatory oversight, financial stability, and technological progress. Pakistan is currently one of the countries with the highest adoption rates of cryptocurrencies, with an estimated 20 million active cryptocurrency users and a cryptocurrency transaction volume exceeding $20 billion.