- Finnish Aurangzeb to chair the meeting.
- The CEO of the CCP, Bilal Bin Saqib, to attend the session.
- Meeting to discuss the framework to govern digital assets.
Islamabad: Pakistan Crypto Council (PCC) should hold a high -level meeting on June 2 to discuss the regulatory and legal framework surrounding the digital currency and the wider cryptographic landscape of the country.
The meeting would be chaired by the Minister of Finance and the Senator of Revenue Muhammad Aurangzeb, according to the press release published by the Ministry of Finance.
The special assistant of the Prime Minister of Blockchain and Crypto, Bilal Bin Saqib, would participate in his quality as CEO of the CCP.
The press release also said: “Key elements on the agenda include the development of a robust regulatory framework to govern digital and virtual assets in Pakistan, in accordance with global standards and technological progress.
“A focal point of discussion will be the basic work of the creation of the Pakistan Virtual Assets Regulatory Authority (PVARA) – an autonomous organization proposed to supervise the digital funding and cryptography ecosystem in the country.”
The Ministry of Finance said that the CPC aims to establish a “secure regulatory environment, transparent and adapted to innovation”, in order to promote “responsible adoption of blockchain technology, investor protection and improvement of financial inclusion”.
“The next meeting highlights the government’s commitment to shape a financial infrastructure ready for the future while ensuring stability and compliance in the emerging digital economy,” he added.
The PCC was formed in March to “regulate and integrate blockchain technology and digital assets” in the country’s financial landscape.
One day earlier, the Standing Finance Committee of the National Assembly was informed by the federal government that cryptocurrencies are still illegal and prohibited in Pakistan.
On the same day, the CEO of PCC, SAQIB, unveiled the first Bitcoin strategic reserve led by the country’s government, marking a historic pivot from the country’s digital and financial prospects.
Addressing a global audience who understood the American vice-president JD Vance, Eric Trump and Donald Trump Jr, he positioned Pakistan as a digital center turned to the future, propelled by his youth warned and reinforced by a change towards decentralized finance.
Bilal revealed that the reserve would not be used for speculation or trading, but would serve as sovereign outfit, signaling a long -term commitment to finance based on blockchain. The Bitcoin national portfolio already has assets in the care of the state.
Pakistan, a country that has ranked 3rd in the global cryptography adoption index, has 20 million active cryptocurrency users and $ 20 billion + in cryptographic transactions.
Currently, the country ranks in the top 10 in terms of the adoption of cryptography. With $ 35 billion in annual funds, the country is about to benefit from the adoption of cryptography.