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According to Brecorder, the Pakistani Ministry of Finance announced that the government has officially established the Digital Asset Authority (PDAA) to comprehensively regulate the cryptocurrency and blockchain industries. This institution will be responsible for the licensing and compliance management of market entities such as exchanges, custodians, stablecoins, and DeFi applications, with the aim of building a regulatory framework that complies with FATF standards. Finance Minister and Chairman of the Pakistan Cryptocurrency Council (PCC), Muhammad Aurangzeb, stated that PDAA will promote the compliance of the informal cryptocurrency market with a scale of $25 billion and explore innovative applications such as national asset tokenization and government debt digitization. The new regulations not only involve cryptocurrency assets, but also open up new financial export channels through tokenization and Web3 innovation. This move makes Pakistan another emerging market after the United Arab Emirates and Singapore to establish a specialized digital asset regulatory agency.