A major step towards digital innovation in Pakistan is underway as the Pakistan Crypto Council (PCC) holds a key meeting in Islamabad on June 2, 2025, chaired by Finance Minister Muhammad Aurangzeb. The focus is on creating strong regulations for cryptocurrencies and blockchain technology in the country.
What is the Pakistan Crypto Council (PCC)?
Launched in March 2025, the Pakistan Crypto Council is a body that aims to guide and regulate the use of blockchain technology and digital assets in Pakistan’s financial system. It works closely with the Ministry of Finance and other key stakeholders.
Meeting Regarding Crypto In Pakistan
According to the Finance Ministry, the Crypto PCC meeting will serve as a strategic forum to:
- Discuss legal and regulatory challenges of digital currencies.
- Propose the formation of the Pakistan Virtual Assets Regulatory Authority (PVARA).
- Develop a roadmap for safe and responsible crypto adoption.
Key Highlights from the Meeting Agenda
- Create a Legal Framework for digital and virtual assets.
- Set Global Standards for crypto regulation in Pakistan.
- Protect Investors through transparent rules.
- Support Blockchain Innovation for economic development.
- Plan the Launch of PVARA, an independent body for digital finance governance.
Who Will Attend?
- Finance Minister Muhammad Aurangzeb (Chair of the meeting)
- PCC CEO Bilal Bin Saqib
- Other members of the Pakistan Crypto Council
Recent Developments in Pakistan’s Crypto Scene
| Event | Details |
|---|---|
| Strategic Bitcoin Reserve | Launched by PCC CEO Bilal Bin Saqib as Pakistan’s first official reserve. |
| National Bitcoin Wallet | The government assigned 2,000 megawatts to support Bitcoin mining and AI data centers. |
| Electricity Allocation | Government assigned 2,000 megawatts to support Bitcoin mining and AI data centers. |
| Legal Bill | PPP MNA Sharmila Farooqi presented a bill to regulate digital currencies in the National Assembly. |
Benefits of Pakistan Crypto Council for the Country
- 🔗 Builds a direct policy bridge between the government and the people.
- 🌍 Positions Pakistan as a tech-savvy nation in global finance.
- 🔒 Promotes secure and transparent digital transactions.
- 📈 Enhances financial inclusion and economic opportunities.
- 🧠 Encourages innovation in AI and blockchain industries.
What is PVARA?
The Pakistan Virtual Assets Regulatory Authority (PVARA) is a proposed autonomous body that will:
- Oversee the crypto and blockchain ecosystem.
- Ensure compliance with local and international standards.
- Offer investor protection while supporting growth and innovation.
Is Cryptocurrency Legal in Pakistan?
While crypto is not fully legal, it is not banned either. Authorities are working on regulations to:
- Prevent fraud and misuse.
- Allow safe and legal crypto ownership.
- Define clear rules for trading and investing.
Global Outlook on Cryptocurrencies
| Country | Legal Status of Crypto |
|---|---|
| El Salvador | Legal tender |
| India | Not legal, but not banned |
| China | Banned |
| Pakistan | Ban in place, regulation in process |
Is it haram to buy cryptocurrency?
It depends. If cryptocurrency:
Does not involve interest (riba) ✅
Avoids gambling (maisir) ✅
It is clear and not highly speculative (gharar) ✅
Then it is likely halal under Islamic finance principles. However, speculative or risky crypto activities are usually considered haram.
The formation of the Pakistan Crypto Council and the steps being taken by the government show a serious commitment to making Pakistan part of the global digital economy. With the upcoming creation of PVARA and growing official interest in Bitcoin reserves, the future of crypto regulation in Pakistan is becoming more structured and promising.