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Pakistan is preparing to introduce a legal framework for cryptocurrency use in foreign investment, reversing its earlier anti-crypto stance and positioning itself as a rising digital asset hub in South Asia. Pakistan Shifts Gears on Crypto Policy Pakistan is set to introduce a regulatory framework aimed at legalizing cryptocurrency for foreign investments, signaling a major policy shift from its previously restrictive approach. The development was confirmed by Bilal Bin Saqib, Chief Advisor to the Finance Minister, in an interview with Bloomberg, marking a pivotal moment for the country’s stance on digital assets. This approach is in contrast to 2023, when the government announced its intent to ban crypto services and asserted it would not legalize crypto trading. Now, the focus has turned to leveraging digital assets as a tool for economic growth through overseas capital inflows. A Strategic Move to Attract Global Capital According to Saqib, the initiative is part of a broader plan to attract international investors by offering a clear, regulated environment for crypto-based investment.  He said,  “Pakistan is done sitting on the sidelines. We want to attract international investment because Pakistan is a low-cost high-growth market with 60% of the population under 30. We have a Web3 native workforce ready to build.” He also mentioned Trump’s recent pro-crypto policies and how they will affect the crypto policies of countries globally.   The announcement follows the formation of a national crypto council, initiated by Prime Minister Shehbaz Sharif to promote blockchain adoption. The proposal is also being seen as a strategic lever to strengthen Pakistan’s financial position and attract much-needed foreign capital. High-Level Talks and Growing Institutional Support The policy shift follows high-level discussions between Pakistan’s Finance Minister Muhammad Aurangzeb and U.S. officials. Talks reportedly included plans to create a Bitcoin Strategic Reserve and develop a national crypto council.…

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Filed under: News - @ March 22, 2025 11:19 am