Pakistan to Form National Crypto Council

Pakistan has announced the establishment of a national crypto council aimed at developing legislation for the cryptocurrency sector. This decision follows a meeting with advisors from former President Donald Trump regarding digital assets, as reported by local news outlet Dawn.

Council Composition

The council will be a dedicated advisory body comprised of government representatives, regulatory authorities, and industry experts. Its primary role will be to oversee policy development and collaborate internationally to create standardized frameworks, according to a statement from the finance ministry.

Change in Stance

Until last year, the finance ministry was against regulating cryptocurrency in Pakistan. However, Finance Minister Muhammad Aurangzeb stated he would approach the issue with an open mind, emphasizing the necessity for a well-regulated digital asset framework.

Aurangzeb also participated in discussions with a foreign delegation that included Trump’s digital asset advisors on Tuesday. Other nations have been observing the U.S. as it moves toward more crypto-friendly policies since Trump’s election.

No Comment

CoinDesk attempted to contact the Finance Ministry for further comments but was unsuccessful.