YEREVAN (CoinChapter.com) — Pakistan’s Finance Ministry is considering establishing a National Crypto Council to explore the legalization of cryptocurrencies, according to local reports from Dawn. The initiative follows a meeting between Finance Minister Muhammad Aurangzeb and a foreign delegation, including key advisors to former U.S. President Donald Trump.
The proposed council will include government representatives, regulators, and industry experts. It will focus on developing policies, addressing regulatory hurdles, and ensuring a secure and compliant crypto ecosystem. Aurangzeb has directed stakeholders to design a framework that balances economic viability, security, and financial crime prevention.
Pakistan’s Growing Crypto Market Faces Challenges
With over 20 million Pakistanis involved in crypto, digital assets have gained traction despite facing significant hurdles. High transaction fees and lack of clear regulations have limited adoption.
Aurangzeb has instructed policymakers to draft a comprehensive crypto policy that aligns with global standards. The plan aims to integrate digital currencies into the financial system while ensuring strict regulatory oversight to prevent money laundering and illicit activities.
Pakistan’s Crypto Stance is Shifting
For years, Pakistan’s Finance Ministry and the State Bank of Pakistan (SBP) resisted cryptocurrency adoption. In January 2022, Aisha Ghaus Pasha, then Minister of State for Finance and Revenue, stated that cryptocurrencies would never be legalized. The SBP also pushed for an outright ban.
However, under Aurangzeb’s leadership, the stance has softened. In November 2024, the SBP proposed regulatory measures to facilitate a central bank digital currency (CBDC) and legal crypto transactions. Aurangzeb has urged officials to approach regulation with an “open mind”.
Trump-Linked Delegation Fuels Crypto Talks
The foreign delegation that met with Aurangzeb included Gentry Beach Jr., a business associate of Trump, alongside tech entrepreneur Nikita Goldsmith, blockchain consultant Alex Malkov, and Jerad Finck, CEO of Cosmic Wire. The U.S. Embassy did not announce their visit.
The meeting aligns with the Trump administration’s pro-crypto approach. In recent months, Trump has reshaped U.S. crypto regulations, replacing the leadership of the Securities and Exchange Commission (SEC) and appointing David Sacks as a crypto czar. Trump has also promised to support crypto innovation and even launched a memecoin.
Pakistan Joins Global Crypto Regulation Trend
Pakistan’s shift toward crypto legalization mirrors trends in the U.S., Europe, and the UAE, where governments are increasing crypto oversight while encouraging digital asset development.
The creation of a National Crypto Council could mark a major step toward integrating cryptocurrencies into Pakistan’s financial system, paving the way for regulation, compliance, and potential mainstream adoption.
