ISLAMABAD
\nThe inaugural meeting of the Pakistan Crypto Council (PCC) was held here Friday under the chairmanship of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, to discuss country\u2019s untapped potential in the crypto space.
\nThe meeting was attended by key figures, including the CEO of the PCC, Bilal Bin Saqib, the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission (SECP), and the Federal IT and Law Secretaries, all of whom are members of the PCC.
\nAccording to press release issued by finance ministry, CEO Bilal Bin Saqib presented a comprehensive vision and mission for the Council..
\nThe meeting was attended by key figures, including the CEO of the PCC, Bilal Bin Saqib, the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission (SECP), and the Federal IT and Law Secretaries, all of whom are members of the PCC.<\/p>\n
Bilal presentation highlighted the current state of Pakistan\u2019s crypto landscape, shedding light on challenges and barriers to the widespread adoption of cryptocurrencies. A major area of discussion was the need for regulatory clarity to unlock the full potential of the sector.
\nCEO Saqib emphasized the importance of regulatory models and use cases, particularly in the region, that could be tailored to Pakistan\u2019s unique context. He also presented the concept of leveraging Pakistan\u2019s surplus electricity for Bitcoin mining, potentially turning the country\u2019s liabilities into assets.
\nOn the occasion, Senator Muhammad Aurangzeb praised the vision and underscored the critical role of the Council in shaping Pakistan\u2019s future in the digital asset space.
\nHe emphasised that the Pakistan Crypto Council will serve as an umbrella platform, uniting all relevant stakeholders and regulatory bodies to work collaboratively toward a comprehensive, responsible, and forward-looking crypto regulatory framework.
\n\u201cThis is the beginning of a new digital chapter for our economy. We are committed to building a transparent, future-ready financial ecosystem that attracts investment, empowers our youth, and puts Pakistan on the global map as a leader in emerging technologies,\u201d he said.
\nThe Minister emphasized that while Pakistan could learn from global best practices, the country must ensure that its business and revenue models are firmly rooted in local realities. He also pointed out the need to build on the existing work done by various entities and groups, leveraging their knowledge and experience.
\nCouncil members, including the Governor of the State Bank of Pakistan, Chairman of SECP, and Federal IT and Law Secretaries, also contributed to the discussions, highlighting the need for a well-defined regulatory framework, legislation, and licensing regimes.
\nThey emphasized the importance of consumer protection, blockchain mining, and a national blockchain policy. The importance of sequencing the rollout, running pilot programs, and ensuring adherence to international obligations was also discussed.
\nThe meeting concluded with a shared commitment to carefully charting a path forward, ensuring Pakistan can fully tap into the potential of blockchain and cryptocurrencies while safeguarding the country\u2019s economic interests, the statement added.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The inaugural meeting of the Pakistan Crypto Council (PCC) was held here Friday under the chairmanship of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, to discuss country\u2019s untapped potential in the crypto space. The meeting was attended by key figures, including the CEO of the PCC, Bilal Bin Saqib, the Governor of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-468455","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n