Pakistan to Legalize Crypto to Attract Foreign Investment

Pakistan is set to establish a framework to make cryptocurrency legal in an effort to attract international investment.

According to Chainalysis, Pakistan already ranks ninth in global crypto adoption, with around 15 million to 20 million crypto users.

“Pakistan is done sitting on the sidelines,” Bilal bin Saqib, the chief executive officer at Pakistan Crypto Council, explained. “We want to attract international investment because Pakistan is a low-cost high-growth market with 60% of the population under 30. We have a Web3 native workforce ready to build.”

Saqib envisions Pakistan becoming the crypto capital of South Asia, competing with established blockchain hubs like Dubai, Singapore, and Hong Kong.

Also serving as chief advisor to the finance minister for digital asset management, Saqib will explore the use of artificial intelligence to enhance government operations, streamline decision-making, and drive innovation across public sector functions.

Pakistan is also taking lessons from the US, which under President Donald Trump, has vowed to become more pro-crypto. “Trump is making crypto a national priority and every country including Pakistan will have to follow suit or will be at the risk of being left behind,” Saqib noted.

Earlier this month, Trump signed an executive order for a Bitcoin-only reserve, pledging that the US government will not sell any of its 200,000 BTC held in the reserve.

On 14 March, Saqib was appointed as CEO of the Pakistan Crypto Council by the Finance division of the current Pakistan government. “This is just the beginning, Pakistan is open for business,“ he said at the time.

“By leveraging blockchain for remittances and trade, both nations can reduce reliance on traditional banking, lower 5-9% fees, and create seamless cross-border payment networks."