Federal Minister Tariq Fazal Chaudhry has said that cryptocurrency is being regulated in Pakistan to prevent its misuse and ensure financial transparency. He made the statement while addressing the National Assembly during the question hour session.
The Federal Minister clarified that the government neither promotes nor discourages cryptocurrency. He explained that digital currencies are not yet recognized as legal tender in Pakistan. However, the government is introducing regulatory measures to prevent illegal activities linked to virtual assets.
According to the minister, necessary steps are being taken to establish a structured framework for cryptocurrency oversight. He said that the Special Assistant to the Prime Minister is supervising all matters related to digital currencies to ensure a secure and compliant process.
Responding to a question from lawmaker Mirza Ikhtiar Baig regarding the legal status of cryptocurrency and concerns raised by the Financial Action Task Force (FATF), the Federal Minister confirmed that Pakistan is addressing these issues through comprehensive regulations.
He added that all relevant global compliance standards and financial safety requirements are being reviewed. The objective is to align Pakistan’s regulatory framework with international best practices while minimizing potential risks.
The minister emphasized that the focus is on regulation, not recognition. Cryptocurrency remains unrecognized as official currency in Pakistan, but the government aims to monitor and control its use to prevent misuse.
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He assured that the authorities are working to balance innovation with security, ensuring Pakistan keeps pace with global financial technology developments without compromising stability.
Through this approach, the Federal Minister reiterated, Pakistan seeks to maintain transparency, meet international obligations, and safeguard the economy from unlawful financial activities related to digital assets.
