Bitcoin, blockchain should form Pakistan’s new financial rail, minister says
Pakistan’s minister advocates for Bitcoin and blockchain as the foundation for a new financial system, aiming to regulate its growing crypto market.Summary
Pakistan is actively pursuing the integration of Bitcoin and blockchain technology into its financial infrastructure, according to Bilal Bin Saqib, chairman of the Virtual Asset Regulatory Authority (PVARA). Speaking at the Bitcoin MENA Conference, Saqib stated that traditional economic models are insufficient and that digital assets represent “a new engine” for the country’s 240 million citizens. He envisions Bitcoin, digital assets, and blockchain not as speculative tools, but as the core infrastructure for a new financial rail, particularly for the Global South. Pakistan aims to transform its currently large, unregulated crypto market into a compliant and investment-ready ecosystem, leveraging its young population and rapid digital growth. The country has already begun taking steps such as preparing a strategic Bitcoin reserve, allocating electricity for Bitcoin mining, and inviting global crypto companies to apply for licenses.
(Source：Cointelegraph)