Pakistan would recognize cryptocurrency as a “strategic asset,” according to FinMin’s adviser.

ISLAMABAD (Web Desk) Pakistan intends to use cryptocurrencies as a “strategic asset” to usher in a digital financial revolution, according to a finance ministry expert.

The finance division said last month that it was considering forming a national crypto council to create a financial environment in the country that would allow for safe investments in digital assets.

The finance division stated this month that Bilal bin Saqib, a Forbes-recognized entrepreneur and Web3 investor, has been appointed as chief adviser to the finance minister for the Pakistan Crypto Council.

“The Pakistan Crypto Council recognises Pakistan’s strong position as one of the top 10 nations globally in crypto adoption,” Saqib remarked on X.com.

“Moving forward, it will be our priority to recognise crypto as a strategic asset, develop comprehensive and forward-thinking regulatory frameworks, and ensure compliance to position Pakistan as a leader in the digital financial revolution.”

Pakistan’s central bank has previously ruled virtual currencies such as Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin, and Pay Diamond unlawful, prohibiting their sale, acquisition, and exchange in trade.

According to the finance division, the country presently has more than 20 million active users in the digital asset market, who confront substantial obstacles such as exorbitant transaction costs.

Saqib stated that the United States (US) had just taken a “historic” decision to establish a Bitcoin Strategic Reserve, which was a watershed moment for the world economy.

“It signals a shift in how nations perceive value, moving beyond traditional assets like gold and oil to embrace the digital future,” according to him.

“For the world, this decision gives cryptocurrency more legitimacy as a store of value, accelerates institutional adoption, and strengthens the digital economy’s foundation.” It also creates a precedent for other countries to follow, changing the future of global finance.”

Last month, Pakistan’s Finance Minister Muhammad Aurangzeb instructed stakeholders to create a complete framework for a digital asset ecosystem that prioritizes security, transparency, regulatory compliance, and economic sustainability.

He was leading a high-level discussion to explore the worldwide expansion of bitcoin and the possible impact of digital assets on the Pakistani economy.

“This crypto council will oversee policy development, address regulatory challenges, and ensure that Pakistan’s digital asset ecosystem evolves in a secure, compliant, and sustainable manner,” the finance division stated during the February 25 meeting.

“The Council will also engage with friendly countries to create uniform standards for international digital content.