In a key development, the Ministry of Finance on Wednesday unveiled a comprehensive strategy to regulate digital assets and accelerate the growth of Pakistan\u2019s virtual asset economy.<\/p>\n
As part of this initiative, the government has endorsed the establishment of a dedicated body \u2014 the Pakistan Digital Assets Authority (PDAA) \u2014 to regulate blockchain-based financial infrastructure, read a statement released by the Ministry of Finance.<\/p>\n
The aim is to ensure FATF-compliant innovation, economic inclusion, and responsible adoption of digital assets.<\/p>\n
\u201cPakistan must regulate not just to catch up \u2014 but to lead. With the PDAA, we are creating a future-ready framework that protects consumers, invites global investment, and puts Pakistan at the forefront of financial innovation,\u201d said Finance Minister and Chairman of Pakistan Crypto Council (PCC)<\/a>, Muhammad Aurangzeb.<\/p>\n The government said that PDAA will serve as a specialised regulatory body with a mandate to oversee licensing, compliance, and innovation within the digital asset<\/a> ecosystem.<\/p>\n Global crypto diplomacy: PCC positions Pakistan as rising force in just 50 days<\/strong><\/p>\n It will also regulate exchanges, custodians, wallets, tokenised platforms, stablecoins, and DeFi applications \u2014 all under a single framework.<\/p>\n \u201cThis strategic decision aligns Pakistan with other forward-thinking economies such as the UAE, Japan, Singapore, and Hong Kong \u2014 all of which have established digital asset regulators<\/a> to foster innovation while ensuring compliance with global financial norms,\u201d read the statement.<\/p>\n Pakistan turns to bitcoin miners, AI data centers to use surplus power<\/strong><\/p>\n The PDAA is expected to regulate a $25B+ informal crypto market, enable tokenisation of national assets and government debt, provide legal clarity to global and local investors, facilitate monetisation of Pakistan\u2019s surplus electricity through regulated Bitcoin mining, and empower youth and startups<\/a> to build blockchain-based solutions at scale.<\/p>\n \u201cThis is not just about crypto \u2014 it\u2019s about rewriting our financial future, expanding access, and creating new export channels through tokenisation, digital finance, and Web3 innovation,\u201d said Bilal Bin Saqib, CEO of PCC.<\/p>\n","protected":false},"excerpt":{"rendered":" In a key development, the Ministry of Finance on Wednesday unveiled a comprehensive strategy to regulate digital assets and accelerate the growth of Pakistan’s virtual asset economy. As part of this initiative, the government has endorsed the establishment of a dedicated body — the Pakistan Digital Assets Authority (PDAA) — to regulate blockchain-based financial infrastructure, […]<\/p>\n","protected":false},"author":1,"featured_media":4955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1305],"tags":[],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t