Pakistan’s crypto advisor, Bilal bin Saqib, recently shared his vision for the future of cryptocurrency in Pakistan during an interview with Bloomberg TV. Bilal, who has recently been appointed as the Chief Advisor to the Minister of Finance for the Pakistan Crypto Council, stated that Pakistan can no longer afford to wait. He emphasized the need for regulatory clarity and a business-friendly legal framework to promote the country’s involvement in the blockchain-based financial system, attracting international investments in the process. He pointed out that cryptocurrency is a rapidly growing market with low costs, and Pakistan aims to play a prominent role in it.
Bilal mentioned that Pakistan is already among the leading nations adopting cryptocurrency, with 60% of the population under 30 years old. Currently, around 15 to 20 million Pakistanis own crypto assets, and the value of crypto transactions in the country amounts to billions of dollars. As such, Bilal stressed the importance of legalizing cryptocurrency in Pakistan.
He added that the country is working on establishing a clear regulatory framework to encourage investment and allow the crypto ecosystem to flourish in Pakistan. According to Bilal, Pakistan offers an attractive opportunity for foreign investors, and efforts are underway to introduce regulatory sandboxes, which will provide crypto startups with a structured and legal environment to operate quickly.
Bilal also highlighted that operating costs in Pakistan are extremely low, making it a more suitable and cost-effective location for crypto businesses compared to centers like Dubai and Singapore.
Furthermore, Bilal revealed that the Pakistani government plans to collaborate with the UAE to learn from their regulatory framework and is also working closely with Nigeria and Turkey. Regarding taxation on cryptocurrency, Bilal stated that the government seeks to adopt a balanced and development-friendly tax system that can attract more foreign investment and rapidly grow Pakistan’s emerging fintech sector.
He also praised former US President Donald Trump’s return as one of the biggest and most positive drivers for cryptocurrency’s growth. Bilal mentioned that Trump’s policies, such as directing regulatory bodies to embrace digital assets, creating a White House crypto advisory team, and establishing a U.S. strategic Bitcoin reserve, are shifting the national approach to crypto.
Bilal concluded by emphasizing that this move signals that the world’s largest economy is now viewing cryptocurrency as a valuable national asset, similar to how it stores gold or oil for economic stability and power. He further warned that every country, including Pakistan, must follow this path, or else risk being left behind in the evolving global economic landscape.
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