LONDON/ISLAMABAD: The federal government has officially launched Pakistan Crypto Council (PCC) in a bid to accelerate digital transformation, according to a notification issued by the Finance Division.

A notification issued by the Finance Division announced that the Pakistan Crypto Council will comprise a high-level panel of members tasked with shaping the nation’s digital financial future.

The council’s composition includes: Chairman: Minister for Finance and Revenue; Member: Governor, State Bank of Pakistan; Member: Federal Secretary, Law and Justice Division; Member: Federal Secretary, IT; and Member: Chairman, Securities and Exchange Commission of Pakistan.

The council has appointed Bilal Bin Saqib as its chief executive officer, signaling a commitment to integrating cryptocurrency and blockchain technology into the nation’s financial ecosystem.

Last week, Saqib was appointed as the chief adviser to the finance minister on the Pakistan Crypto Council to reaffirm Pakistan’s commitment to embracing technological advancement while ensuring sound policy measures that support the national economy, digital transformation, and a secure, transparent financial system for all.

Pakistan, a country that ranked 3rd in the Global Crypto Adoption Index, has 20 million active crypto currency users and $20bn + in crypto transactions.

Currently, the country ranks in the top 10 in terms of crypto adoption. With $35bn in annual remittances, the country is poised to benefit from crypto adoption.

The formal establishment of the Pakistan Crypto Council, reflects Pakistan’s strategic alignment with the global cryptocurrency revolution.

The council is set to position Pakistan at the forefront of digital financial innovation, paving the way for a secure, transparent, and dynamic digital ecosystem.