Finance Minister Hints At Pakistan’s Shift Toward Regulated Crypto Ecosystem

The federal government is moving ahead with plans to develop a regulated framework for digital assets, as part of efforts to channel growing crypto activity into a safe and transparent financial system.

Federal Minister for Finance and Revenue Muhammad Aurangzeb on Tuesday met a delegation from Icoin Technology Inc., led by its Chairman and Chief Executive Officer Chet Silvestri, to discuss Pakistan’s emerging digital asset policy.

The finance minister briefed the delegation on the government’s work toward establishing a Pakistan Crypto Council and a Pakistan Virtual Assets Regulatory Authority, outlining how these initiatives aim to improve financial inclusion, transparency, and consumer protection while encouraging innovation and investment.

He said Pakistan has seen rising participation in global digital asset activity and stressed that regulation was necessary to balance opportunity with risk. He added that the evolving framework would provide clarity to market participants, align with international standards, and ensure coordination among regulators, including the State Bank of Pakistan.

The delegation shared insights from the United States and Canadian markets, explaining how regulatory clarity in mature economies has enabled banks and financial institutions to offer digital asset services through existing systems. They highlighted the role of wallet-based middleware and switching technologies that allow banks to connect securely with exchanges and manage compliance and liquidity.

Representatives of Icoin Technology also spoke about the potential of blockchain technology and stablecoins to modernise financial infrastructure by enabling faster and lower-cost transactions, while remaining within a regulated environment. They referred to recent regulatory developments in the United States aimed at bringing coherence to digital asset and stablecoin regulation.

The delegation expressed interest in exploring opportunities in Pakistan and sought guidance on regulatory pathways, licensing requirements, and engagement with banks and regulators. They noted that young and tech-savvy populations were already active in digital assets and that regulated access through banks could help keep such activity within the formal financial system.

The finance minister advised that initial engagement with interested banks and relevant institutions would be a constructive next step, alongside continued dialogue with regulators. He said Pakistan was at an early but important stage in shaping its digital asset ecosystem and welcomed responsible knowledge sharing and investment aligned with national priorities.

Both sides agreed to remain engaged and continue discussions aimed at supporting the development of a transparent, inclusive, and well-regulated digital asset market in Pakistan.