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 nears $1.5 billion deal to supply weapons, jets to Sudan

Updated 09 January 2026
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Pakistan nears $1.5 billion deal to supply weapons, jets to Sudan

  • Deal may include drones, air defense systems and Karakoram-8 aircraft, with possible JF-17 fighters
  • The sale is expected to bolster Sudan’s army in the ongoing civil war with the Rapid Support Forces

ISLAMABAD: Pakistan is in the final phases of striking a $1.5-billion deal to supply weapons and jets to Sudan, a former top air force official and three sources said, promising a major boost for Sudan’s army, battling the paramilitary Rapid Support Forces.

Their conflict has stoked the world’s worst humanitarian crisis for more than 2-1/2 years, drawing in myriad foreign interests, and threatening to fragment the strategic Red Sea country, a major gold producer.

The deal with Pakistan encompasses 10 Karakoram-8 light attack aircraft, more than 200 drones for scouting and kamikaze attacks, and advanced air defense systems, said two of the three sources with knowledge of the matter, who all sought anonymity.

It was a “done deal,” said Aamir Masood, a retired Pakistani air marshal who continues to be briefed on air force matters.

Besides the Karakoram-8 jets, it includes Super Mushshak training aircraft, and perhaps ‌some coveted JF-17 ‌fighters developed jointly with China and produced in Pakistan, he added, without giving figures ‌or ⁠a delivery ‌schedule.

Pakistan’s military and its defense ministry did not immediately respond to requests for comment.

A spokesman for Sudan’s army did not immediately respond to a message requesting comment.

Assistance from Pakistan, especially drones and jets, could help Sudan’s army regain the air supremacy it had toward the start of its war with the RSF, which has increasingly used drones to gain territory, eroding the army’s position.

PAKISTAN’S DEFENSE AMBITIONS

The deal is another feather in the cap for Pakistan’s growing defense sector, which has drawn growing interest and investment, particularly since its jets were deployed in a conflict with India last year.

Last month, Islamabad struck a weapons deal worth more than $4 billion with the Libyan National Army, officials said, for one of the South Asian nation’s largest arms sales, which includes JF-17 fighter jets and training aircraft.

Pakistan has also held talks with Bangladesh on a defense deal that could includes the Super Mushshak training jets and JF-17s, as ties improve ties with Dhaka.

The government sees Pakistan’s burgeoning industry as a catalyst to secure long-term economic stability.

Pakistan is now in a $7-billion IMF program, following a short-term ‌deal to avert a sovereign default in 2023. It won IMF support after Saudi Arabia and other Gulf allies provided financial and deposit rollovers.