Pakistan plans virtual assets regulator as crypto council convenes next week

Bitcoin tokens and a price chart are seen in this illustration picture taken November 21, 2024. (Reuters/File)
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Updated 30 May 2025
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Pakistan plans virtual assets regulator as crypto council convenes next week

  • Pakistan says it aims to shape a future-ready financial infrastructure while ensuring stability and compliance
  • The country has announced this month to allocate 2,000 megawatts (MW) of electricity to power bitcoin mining

KARACHI: Pakistan plans to establish a regulatory body to oversee digital assets, with the proposal set to be discussed at a meeting of the Pakistan Crypto Council next week, the finance minister said on Friday.

The move marks a significant shift for the South Asian nation, which had previously banned cryptocurrency transactions in 2018, citing financial risks and lack of regulation.

The Pakistan Crypto Council, set up in March, was formed to guide policy on blockchain, digital currencies and attract crypto-related investment as the government reconsiders its approach to digital finance.

“The Pakistan Crypto Council will convene a high-level meeting on Monday, 2nd June 2025, to be chaired by Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue,” the ministry said in an official statement.

“Key items on the agenda include the development of a robust regulatory framework to govern digital and virtual assets in Pakistan, in alignment with global standards and technological advancements,” it continued. “A focal point of discussion will be the groundwork for the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA) — a proposed autonomous body to oversee the digital finance and crypto ecosystem in the country.”

Earlier this month, Pakistan announced the allocation of 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power bitcoin mining and artificial intelligence (AI) data centers.

Additionally, Bilal Bin Saqib, CEO of the Pakistan Crypto Council, unveiled the country’s first government-led strategic bitcoin reserve at the Bitcoin 2025 conference in Las Vegas.

The upcoming council meeting aims to lay down the foundation for a secure, transparent and innovation-friendly regulatory environment.

The finance ministry said the upcoming meeting would reflect the government’s commitment to shaping a future-ready financial infrastructure while ensuring stability and compliance in the emerging digital economy.


Pakistan rejects Amnesty claims of Israeli spyware use, calls reports ‘disinformation’

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Pakistan rejects Amnesty claims of Israeli spyware use, calls reports ‘disinformation’

  • FO denies any link with Israel, says Pakistan has “absolutely no cooperation” on surveillance tools
  • Islamabad accuses India of delaying clearance for relief aircraft bound for flood-hit Sri Lanka

ISLAMABAD: Pakistan on Friday rejected an Amnesty International report alleging the use of Israeli-made invasive spyware in the country, calling the findings speculative and misleading.

Amnesty’s investigation, published Thursday under the title Intellexa Leaks, cited the case of a Pakistan-based human rights lawyer who reported receiving a suspicious WhatsApp link in 2025. According to Amnesty International’s Security Lab, the link bore signatures consistent with Predator, a spyware product developed by Israeli manufacturer c

Foreign Office spokesperson Tahir Andrabi dismissed the suggestion that Islamabad had deployed the tool or maintained any technological cooperation with Israel.

“These are all media speculations. These are all rumor-mongering and disinformation. There is absolutely no cooperation between Pakistan and Israel on anything, let alone a spyware or these kinds of tools. So, I would reject it quite emphatically,” he said at a weekly briefing.

Andrabi also accused India of obstructing humanitarian operations, saying New Delhi delayed flight clearance for a Pakistani relief aircraft carrying aid to flood-affected Sri Lanka.

“The special aircraft carrying Pakistan’s relief goods had to wait for 48 hours, in fact more than 48 hours, around 60 hours, while the flight clearance from India was delayed,” he said.

He added that the eventual conditional flight window was too narrow to be workable.

“The partial flight clearance which eventually was given after 48 hours was operationally impractical, time-bound just for a few hours and hence not operable, severely hindering the urgent need for the relief mission for the brotherly people of Sri Lanka,” Andrabi stated.

“Humanitarian assistance is like justice, if it is delayed, it is denied.”

Responding to India’s claim that clearance was granted within four hours, he said Pakistan has documentary proof contradicting New Delhi’s version.

On a separate question about reported delays in the arrival of a Turkish delegation aimed at mediating between Islamabad and Kabul, Andrabi said Pakistan welcomed Ankara’s initiative but was unaware of the cause of postponement.

“We stand ready to receive the Turkish delegation. That delegation has not arrived as yet. And I’m not aware of any schedule. Pakistan is ready to hold negotiations, discussions,” he said, adding that the delay may be linked to coordination with the Afghan side.