The head of Pakistan’s newly created virtual assets regulator has come under criticism after advising the public to learn how to buy Bitcoin by watching online videos, despite the absence of a fully regulated crypto market in the country.
Bilal bin Saqib, chairman of the Pakistan Virtual Assets Regulatory Authority, made the remarks during an interview with a private television channel. He said he was not a financial adviser but suggested that people could follow online tutorials to buy digital assets, noting that millions worldwide had done so in the same way.
His comments quickly drew criticism on social media, with users questioning whether such advice was appropriate coming from the head of a regulatory authority, especially at a time when many Pakistanis trade cryptocurrencies through informal and unregulated peer-to-peer platforms.
Saqib also said Pakistan needed to move beyond conventional thinking and start preparing for the future, arguing that technologies such as digital assets, artificial intelligence, drones, robotics, and quantum computing would redefine how countries operate and exercise sovereignty. He said Pakistan should focus on emerging technologies to remain relevant in the coming decades.
The remarks come at a time when the government has begun taking formal steps toward recognising blockchain-based systems. Earlier this month, the Ministry of Finance signed a memorandum of understanding with Binance Investments Co., one of the world’s largest digital asset companies.
The agreement was signed by Finance Minister Muhammad Aurangzeb and Binance Chief Executive Officer Richard Teng, in the presence of Changpeng Zhao, adviser to the Pakistan Crypto Council.
Under the MoU, both sides will explore the use of blockchain technology for the tokenization and digital distribution of Pakistan’s sovereign and real world assets. These may include government bonds, treasury bills, commodity reserves and other state-owned assets.
Officials said that, subject to regulatory approvals, assets worth up to $2 billion could eventually be included in the initiative to improve liquidity, transparency and access to international markets.
However, the controversy surrounding the regulator’s public comments has raised fresh questions about investor protection, public guidance and the pace at which Pakistan is moving into the digital asset space.
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He is an insane person, all the innocent citizens are requested not to pay heed to his stupid activities. He only wants to get all the money from Elite class from Pakistan
Bcz he is incompetent. That’s why.
Crypto is a well known scam used to loot people
I am happy that my country is finally destroying itself . Soon inshallah our Atomic weapons shall be privatized. Plz sell the entire country
Adani and Ambani shall buy them gleefully
Remember the sarcasm.
Acha howa bata diya..
Werna kala daala aa jata..
🤔Bilal bin Saqib doing great efforts towards Crypto market in Pakistan… I had an opinion Crypto ministry should grant licences / certificate + spaces in all provinces across Pakistan to those Pakistani rather living in country or abroad 🧐who are right now 💥 sparks of BINANCE with 💪 community across crypto market as well, hope you got my point & provide me also chance to be a part of this whole crypto system in Pakistan it will be an honour for me👍
Make Trump’s firm ‘world liberty financial’ Binance’s owner, and bin Saqib (and his powerful Pakistani backers richer (guess who)). That’s what this scam is all about no matter how wonderfully dressed up it is with the right terminology. Pakistan loses again