Regulatory framework for digital, virtual assets discussed

ISLAMABAD: A high-level meeting of the Pakistan Crypto Council (PCC) was held on Monday at the Finance Division, chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.

The meeting was attended virtually by Bilal Bin Saqib, Minister of State/ Special Assistant to the Prime Minister on Blockchain and Crypto and Chief Executive Officer of the Pakistan Crypto Council.

The meeting was also attended virtually by the Governor, State Bank of Pakistan (SBP) while Chairman, Securities and Exchange Commission of Pakistan (SECP); Secretary, Law & Justice Division; and Secretary, Ministry of Information Technology & Telecommunication, joined in person.

SBP says collaborating with Pakistan Crypto Council on regulatory framework for virtual assets

The meeting focused on the draft regulatory framework for digital and virtual assets in Pakistan, aiming to align with international standards and evolving technological trends.

Participants also discussed various options around the establishment of an autonomous regulatory authority to oversee and regulate the digital finance and crypto ecosystem in the country.

Members of the Council provided valuable input to ensure a secure, transparent, and innovation-friendly regulatory environment, with the goal of promoting responsible blockchain adoption, safeguarding investors, and advancing financial inclusion.

The Chair appreciated the contributions of all stakeholders and reaffirmed the government’s commitment to building a future-ready financial infrastructure that supports innovation while maintaining financial stability and regulatory compliance.

It was agreed to constitute a technical committee comprising representatives from SBP, SECP, Law Division, and IT & Telecom Division. The committee will review the draft laws and propose a robust framework and governance structure to be reviewed by the PCC in its next meeting.

Copyright Business Recorder, 2025