Pakistanis are estimated to have invested between $20 billion and $30 billion in crypto-linked assets, according to experts at the Sustainable Development Policy Institute’s annual conference. They emphasized the urgent need for a regulatory framework to prevent the country from missing a major economic opportunity.
Speakers highlighted that the true scale of crypto activity in Pakistan is unknown, as there is no legal structure to recognize or monitor virtual asset transactions. Trading volumes could potentially reach $300 billion, approaching the country’s GDP of roughly $400 billion.
Experts recommended a cautious, phased approach to legalizing crypto. Weak regulation and cybersecurity gaps could expose investors to fraud and financial instability. They suggested beginning with a Central Bank Digital Currency (CBDC) to reduce remittance costs and bring digital transactions under state oversight.
Zafar Masud, President of the Pakistan Banks Association, stated that early action could capture $20–25 billion in economic gains. He noted that Pakistan is seriously considering a rupee-backed stablecoin but warned that cybersecurity risks and public perception remain major challenges.
State Bank officials confirmed that work on a digital currency prototype has been ongoing since 2022, with support from the World Bank and IMF. A pilot phase is planned once testing concludes.
Experts agreed that digital financial systems could reduce remittance costs, increase financial inclusion, and help Pakistan align with global fintech trends. However, they cautioned that delays in regulation could hinder economic growth and expose the country to financial risks.
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The consensus at the conference was clear: Pakistan needs to act quickly to regulate crypto assets while ensuring robust cybersecurity and public confidence.
