Key Points:
- Pakistan aims to collaborate with the US on regulating cryptocurrencies and digital assets.
- The country has established a Crypto Council and set up a dedicated regulatory authority.
- Outreach includes partnerships with global and domestic crypto firms to strengthen compliance
ISLAMABAD: Pakistan is seeking closer cooperation with the United States on the governance and regulation of digital assets, as it moves to formalise policy frameworks for cryptocurrencies and related technologies.
This came during a meeting between Ambassador Rizwan Saeed Sheikh and Patrick Witt, Executive Director at the US President’s Council of Advisers for Digital Assets, said a statement issued by Pakistan’s Embassy in Washington.
Ambassador Sheikh highlighted Pakistan’s recent strides in digital asset adoption and regulation, including the creation of the Pakistan Crypto Council (PCC), the promulgation of the Virtual Assets Ordinance 2025, and the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA). He described these steps as part of a conscious effort to build an institutional framework and comprehensive ecosystem for millions of domestic users of digital assets.
The government has accelerated regulatory initiatives amid years of informal use and legal uncertainty. Partnerships have been forged with global crypto firms, such as Binance, and domestic exchanges including HSX, to improve compliance, investor protection, and market infrastructure. Millions of Pakistanis already use digital assets, mostly outside the formal financial system, raising concerns over consumer risk and capital flows.
Ambassador Sheikh emphasised Pakistan’s interest in learning from international regulatory experience and expressed appreciation for US leadership in shaping global approaches to digital finance and blockchain governance.
The initiative aligns with broader economic reforms under an International Monetary Fund (IMF) programme, as authorities aim to strengthen financial oversight, improve transparency, and manage emerging technology risks.
Analysts note that enforcement and coordination with the State Bank of Pakistan will be key to the framework’s success.
