Pakistan Advances Plans for Regulated Digital Asset Framework

The federal government is moving forward with plans to introduce a regulated framework for digital assets, aiming to bring the country’s growing crypto activity into a secure, transparent, and formal financial system.

Federal Minister for Finance and Revenue Muhammad Aurangzeb held a meeting on Tuesday with a delegation from Icoin Technology Inc., led by Chairman and CEO Chet Silvestri, to discuss Pakistan’s evolving digital asset policy and regulatory direction.

During the meeting, the finance minister shared details of the government’s efforts to establish a Pakistan Crypto Council and a Pakistan Virtual Assets Regulatory Authority. He said these initiatives are designed to promote financial inclusion, strengthen consumer protection, enhance transparency, and support responsible innovation and investment in the digital economy.

The minister noted that Pakistan has witnessed increasing participation in global digital asset markets, particularly among younger users. He emphasized that regulation is essential to manage risks while allowing the sector to grow in line with international best practices. The proposed framework is expected to provide clarity to investors and service providers while ensuring coordination among regulators, including the State Bank of Pakistan.

Members of the Icoin Technology delegation shared insights from U.S. and Canadian markets, explaining how clear regulatory structures in developed economies have enabled banks and financial institutions to offer digital asset services through existing financial systems. They highlighted the use of wallet-based middleware and switching technologies that help banks securely connect with exchanges while managing compliance and liquidity.

The delegation also discussed the potential of blockchain technology and stablecoins to modernize financial infrastructure by enabling faster and lower-cost transactions within a regulated environment. They referred to recent regulatory developments in the United States aimed at creating consistency in digital asset and stablecoin oversight.

Expressing interest in Pakistan’s market, the delegation sought guidance on regulatory pathways, licensing requirements, and engagement with local banks and regulators. They noted that Pakistan’s young and tech-savvy population is already active in digital assets and said regulated access through banks could help keep such activity within the formal economy.

The finance minister advised that initial engagement with interested banks and relevant institutions would be a practical next step, alongside continued dialogue with regulators. He described Pakistan as being at an early but critical stage in shaping its digital asset ecosystem and welcomed responsible collaboration aligned with national priorities.

Both sides agreed to maintain engagement and continue discussions aimed at supporting the development of a transparent, inclusive, and well-regulated digital asset market in Pakistan.

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