Pakistan plans to create a legal framework for cryptocurrency trading to attract international investment

According to Bloomberg, Bilal bin Saqib, CEO of the Pakistan Crypto Council, stated in an interview that the country aims to establish a clear regulatory framework to manage digital asset activities and promote the development of the local ecosystem. Saqib said, "Pakistan is no longer standing idly by. 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." Saqib pointed out that he hopes to make Pakistan the cryptocurrency capital of South Asia, competing with Dubai, Singapore, and Hong Kong, China for leadership in the blockchain field. This legalization plan was proposed after Saqib was appointed as the Chief Advisor on Digital Asset Management to the Minister of Finance earlier this month. He will also provide suggestions on exploring the use of artificial intelligence to improve government efficiency, optimize decision-making processes, and promote innovation in public sector operations. Saqib said, "Trump is making cryptocurrency a national priority, and every country, including Pakistan, will have to follow suit According to Chainalysis, Pakistan ranks ninth globally in terms of cryptocurrency adoption rate. Saqib mentioned in an interview that there are approximately 15 to 20 million cryptocurrency users in Pakistan.