ISLAMABAD: The Pakistan Crypto Council (PCC) convened a high-level meeting today at the Ministry of Finance, chaired by Senator Muhammad Aurangzeb, the Federal Minister for Finance and Revenue.
The discussion focused on the proposed regulatory framework for digital and virtual assets in Pakistan, aiming to align with international standards and emerging technological trends.
Participants deliberated on various aspects related to establishing an autonomous regulatory authority to oversee and regulate the digital finance and crypto ecosystem within the country.
Council members contributed valuable suggestions to ensure a secure, transparent, and innovation-friendly regulatory environment.
The objective is to responsibly adopt blockchain technology, protect investors, and promote financial inclusion.
The chairperson praised the efforts of all stakeholders and reaffirmed the government’s commitment to developing a modern financial system aligned with future demands.
This system will support innovation while ensuring financial stability and regulatory compliance.
It was decided to form a technical committee comprising representatives from the State Bank, SECP, the Law Division, and the IT and Telecom Division.
This committee will review the proposed laws and present recommendations for a robust framework and governance structure. These proposals will be considered at the upcoming meeting of the Pakistan Crypto Council.
The meeting featured online participation from Bilal bin Saqib, Minister of State and Special Assistant to the Prime Minister on Blockchain and Crypto as well as CEO of the Pakistan Crypto Council.
The Governor of the State Bank of Pakistan also joined remotely.
Key officials attending in person included the Chairman of the Securities and Exchange Commission of Pakistan (SECP), the Secretary of the Law and Justice Division, and the Secretary of the Ministry of Information Technology and Telecommunication.
