Pakistan among top countries for crypto adoption with 20 million users — adviser 

This illustration photograph taken on July 19, 2021, in Istanbul, shows a physical banknote and coin imitations of the Bitcoin cryptocurrency. (AFP/File)
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Updated 28 March 2025
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Pakistan among top countries for crypto adoption with 20 million users — adviser 

  • Pakistan Crypto Council set up this year to set regulatory guidelines for adoption, lure foreign investment 
  • Cryptocurrencies including bitcoin are not officially regulated in Pakistan but are not illegal or banned

ISLAMABAD: Pakistan is among the top countries in the world for crypto adoption, with around 20 million users, Pakistan Crypto Council (PCC) Chief Executive Officer Bilal Bin Saqib said on Friday.

The PCC, established by the government earlier this month, aims to create a legal framework for cryptocurrency trading in a bid to lure international investment. Cryptocurrencies including bitcoin are not officially regulated in Pakistan but are also not illegal or banned. As of Jan. 16, 2021, the State Bank of Pakistan has not authorized any individuals or organizations to carry out the sale, purchase, exchange, and investment of virtual currencies, coins, and tokens.

“Around 20 million crypto users are in Pakistan,” Saqib said during a talk show on Geo News. “We are coming on number three and four globally and there are many blockchain technology opportunities in Pakistan.”

Explaining the role of the PCC, Saqib said it would create a regulatory framework for crypto-related activities in Pakistan, including exchanges and licensing, and ensure a secure environment to protect Pakistanis from potential losses.

“Globally 0.24 percent cryptocurrency transactions are used for wrong things,” he said. “We want to use this technology for other things like real estate, agriculture and to unlock their liquidity.”

Saqib refrained from providing a timeline for when crypto would be legalized in Pakistan.

Speaking to Bloomberg earlier this month, Bilal, recognized by Forbes as a Web3 investor and blockchain strategist, highlighted that Pakistan offered one of the lowest operating costs for crypto businesses, making it a more cost-effective alternative to hubs like Dubai and Singapore. 

He said regulatory sandboxes were being developed to create fast-track systems for crypto startups, enabling them to operate within a controlled and compliant environment.

Pakistan is also engaging with the UAE to learn from its regulatory model and is working closely with Nigeria and Turkiye on policy development, he told Bloomberg. 

Regarding taxation, Bilal has said the government intended to implement a “balanced pro-growth tax structure” to encourage foreign investment in the sector.

He emphasized that cryptocurrency could significantly boost Pakistan’s fintech sector, positioning the country as a regional leader in digital finance. 


Pakistan PM reviews internal, regional security after Khamenei killing, Afghanistan strikes

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Pakistan PM reviews internal, regional security after Khamenei killing, Afghanistan strikes

  • At least 16 people were killed and dozens more injured in clashes over killing of the Iranian supreme leader
  • The unrest came amid Pakistan’s offensive against Afghan forces, which officials say has killed 415 fighters

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday convened a high-level meeting to review internal and regional security situation, Sharif’s office said, amid nationwide protests over the killing of Iran’s Supreme Leader Ayatollah Ali Khamenei and Islamabad’s ongoing military operation against Afghan forces.

Protests erupted in several cities across Pakistan on Sunday after the killing of the Iranian supreme leader in US-Israeli joint strikes, with at least 16 people killed and dozens more injured in clashes with law enforcement agencies.

The unrest came amid Pakistan’s ongoing military operation against Afghan forces following a series of tit-for-tat strikes by the neighbors which began after Islamabad hit what it said were Tehreek-e-Taliban Pakistan and Daesh camps in Afghanistan on Feb 21-22.

During Sunday’s meeting, officials briefed PM Sharif and other participants about the country’s internal situation and security arrangements in place to thwart any untoward incident, according to Sharif’s office.

“Pakistan’s role and various measures to establish peace in the region were reviewed at the meeting,” Sharif’s office said. “The situation in Afghanistan was also reviewed in detail at the meeting.”

The development came shortly after Pakistan’s Information Minister Attaullah Tarar said that 415 Afghan Taliban fighters had been killed and more than 580 wounded since the latest phase of hostilities between the neighbors began on Thursday.

Afghan officials earlier said that dozens of Pakistani soldiers had been killed and several Pakistan posts had been captured by their forces. None of the casualty figures or battlefield claims from either side could be independently verified.

Earlier in the day, gunshots and explosions were reported in Kabul. Afghan government spokesperson Zabihullah Mujahid said the sounds were the result of Afghan forces targeting Pakistani aircraft over the capital.

“Air defense attacks were carried out in Kabul against Pakistani aircraft,” Mujahid wrote on X. “Kabul residents should not be concerned.”

KHAMENEI KILLING ‘VIOLATION’ OF INTERNATIONAL LAW

Separately, Sharif said the killing of Khamenei was a “violation” of international law.

“People of Pakistan join the people of Iran in their hour of grief and sorrow and extend the most sincere condolences on the martyrdom [of Khamenei],” he wrote on X.

“Pakistan also expresses concern over violation of the norms of international law.”

EVACUATION OF PAKISTANIS FROM IRAN

At Sunday’s meeting, officials of the foreign ministry also briefed the prime minister on the evacuation of Pakistani citizens from Iran, according to a statement issued from Sharif’s office.

“The evacuation of Pakistani citizens from Iran is being made possible through Azerbaijan,” they were quoted as saying.

Pakistan earlier asked its citizens in Gulf countries to exercise caution, avoid travel and strictly follow official adviseries, amid escalating tensions following the killing of Khamenei.

The foreign ministry shared emergency contact details of Pakistani embassies and consulates for the facilitation of Pakistani nationals abroad.