ISLAMABAD: Pakistan is planning to adopt cryptocurrency as a “strategic asset” to bring about a digital financial revolution, an adviser to the Pakistani finance minister said this week, after Islamabad signaled its intent to formalize digital asset regulations.
Pakistan’s finance division said last month that it was mulling a national crypto council to establish a financial ecosystem in the country that would allow safe investments in digital assets.
This month, the finance division announced the appointment of Bilal bin Saqib, a Forbes-recognized entrepreneur and Web3 investor, as chief adviser to the finance minister for the Pakistan Crypto Council.
“The Pakistan Crypto Council recognizes Pakistan’s strong position as one of the top 10 nations globally in crypto adoption,” Saqib said on X.
“Moving forward, it will be our priority to recognize crypto as a strategic asset, develop comprehensive and forward-thinking regulatory frameworks, and ensure compliance to position Pakistan as a leader in the digital financial revolution.”
Pakistan’s central bank previously declared virtual currencies, including Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin and Pay Diamond, illegal and prohibited their sale, purchase and exchange in trading.
The country currently has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees, according to the finance division.
Saqib noted that the United States (US) had just made a “historic” move to establish a Bitcoin Strategic Reserve, which marked a pivotal moment for the global economy.
“It signals a shift in how nations perceive value, moving beyond traditional assets like gold and oil to embrace the digital future,” he said.
“For the world, this decision brings greater legitimacy to crypto as a store of value, accelerates institutional adoption, and strengthens the foundation of the digital economy. It also sets a precedent for other nations to follow, reshaping the future of global finance.”
Last month, Pakistan’s Finance Minister Muhammad Aurangzeb directed stakeholders to formulate a comprehensive framework for a digital asset ecosystem that ensures security, transparency, regulatory compliance and economic viability. He was presiding over a high-level meeting to discuss global evolution of cryptocurrency and potential impact of digital assets on Pakistan’s economy.
“This crypto council will oversee policy development, address regulatory challenges, and ensure that Pakistan’s digital asset ecosystem evolves in a secure, compliant, and sustainable manner,” the finance division said after the meeting on Feb 25.
“The Council will also collaborate with friendly countries to develop standardized frameworks for international digital economic engagement.”
Pakistan plans to adopt cryptocurrency as ‘strategic asset,’ adviser says
https://arab.news/5zqdv
Pakistan plans to adopt cryptocurrency as ‘strategic asset,’ adviser says
- Pakistan has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees
- Last month, Islamabad announced its plans to set up a national crypto council to establish a digital financial ecosystem in the country
Pakistan puts border districts on high alert amid Iran protests — official
- The development comes as Iranian authorities try to suppress protests over faltering economy, with over 2,600 killed
- Militancy in Balochistan has declined following the return of nearly 1 million Afghans, the additional chief secretary says
QUETTA: Pakistan has heightened security along districts bordering Iran as violent protests continue to engulf several Iranian cities, a top official in Pakistan’s southwestern Balochistan province said on Thursday, with authorities stepping up vigilance to guard against potential spillover.
The development comes as Iranian authorities try to suppress protests, which began late last month over the country’s faltering economy and the collapse of its currency, with more than 2,600 killed in weeks of violence in the Islamic republic.
The clampdown on demonstrations, the worst since the country’s 1979 Islamic revolution, has drawn threats from the United States (US) of a military intervention on behalf of the protesters, raising fears of further tensions in an already volatile region.
Pakistan, which shares a 909-kilometer-long border with Iran in its southwest, has said that it is closely monitoring the situation in the neighboring country and advised its citizens to keep essential travel documents with them amid the unrest.
“The federal government is monitoring the situation regarding what is happening in Iran and the provincial government is in touch with the federal government,” Hamza Shafqaat, an additional chief secretary at the Balochistan Home Department, told Arab News in an exclusive interview on Thursday.
“As far as the law and order is concerned in all bordering districts with Iran, we are on high alert and as of now, the situation is very normal and peaceful at the border.”
Asked whether Islamabad had suspended cross-border movement and trade with Iran, Shafqaat said trade was ongoing, but movement of tourists and pilgrims had been stopped.
“There were few students stuck in Iran, they were evacuated, and they reached Gwadar,” he said. “Around 200 students are being shifted to their home districts.”
SITUATION ON PAKISTAN-AFGHANISTAN BORDER
Pakistan’s Balochistan province has long been the site of an insurgency by ethnic Baloch separatists and religiously motivated groups like the Tehreek e Taliban Pakistan (TTP). Besides Iran, the province shares more around 1,000-kilometer porous border with Afghanistan.
Islamabad has frequently accused Afghanistan of allowing its soil for attacks against Pakistan, an allegation denied by Kabul. In Oct., Pakistan and Afghanistan engaged in worst border clashes in decades over a surge in militancy in Pakistan. While the neighbors agreed to a ceasefire in Doha that month, relations between them remain tensed.
Asked about the government’s measures to secure the border with Afghanistan, Shafqaat said militancy in the region had declined following the return of nearly 1 million Afghan nationals as part of a repatriation drive Islamabad announced in late 2023.
“There is news that some of them keep on coming back from one border post or some other areas because we share a porous border and it is very difficult to man every inch of this border,” he said.
“On any intervention from the Afghanistan side, our security agencies which are deputed at the border are taking daily actions.”
LAW AND ORDER CHALLENGE
Balochistan witnessed 167 bomb blasts among over 900 militant attacks in 2025, which killed more than 400 people, according to the provincial government’s annual law and order report. But officials say the law-and-order situation had improved as compared to the previous year.
“More than 720 terrorists were killed in 2025 which is a higher number of operations against terrorists in many decades, while over a hundred terrorists were detained by law enforcement agencies in 90,000-plus security operations in Balochistan,” Shafqaat said.
The provincial government often suspended mobile Internet service in the southwestern province on various occasions last year, aimed at ensuring security in Balochistan.
“With that step, I am sure we were able to secure hundreds of lives,” Shafqaat said, adding it was only suspended in certain areas for less than 25 days last year.
“The Internet service through wireless routers remained open for the people in the entire year, we closed mobile Internet only for people on the roads because the government understands the difficulties of students and business community hence we are trying to reduce the closure of mobile Internet.”
