The Federal Minister for Finance has underscored the need for a transparent and globally compatible framework for digital assets. The government has agreed to formulate a policy that aligns with international financial standards to regulate digital assets effectively. This initiative aims to ensure compliance with global financial principles while fostering the growth of digital finance in Pakistan.
A high-level meeting, chaired by the Finance Minister, brought together key stakeholders, including advisors to former US President Donald Trump on digital assets, the Minister of State for IT, the Governor of the State Bank, and other officials. Discussions focused on global trends, regulatory frameworks, and the economic impact of cryptocurrencies. The Finance Minister highlighted the necessity of developing a regulatory structure that ensures transparency and aligns with global standards.
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The discussions also covered the tokenization of government infrastructure and public sector assets. The Finance Minister stressed that tokenization could enhance investment opportunities, strengthen capital markets, and allow investors to explore digital asset solutions in a controlled environment. Additionally, it was revealed that over 20 million digital asset users in Pakistan face challenges due to high transaction fees, necessitating reforms to facilitate smoother transactions.
To regulate the sector effectively, the government is considering establishing a National Crypto Council. This council will include representatives from government institutions, regulatory authorities, and industry experts to support policymaking and oversight. The Finance Minister emphasized the importance of a balanced approach that encourages investment while maintaining financial security and compliance with FATF guidelines. The national policy on digital assets will be designed to integrate Pakistan into the global digital economy while safeguarding national interests.
