The Pakistani government has decided to create a special council to deal with cryptocurrency issues. This body is empowered to promote new technologies and develop laws related to digital assets. The leadership of the council is entrusted to Finance Minister Muhammad Aurangzeb, and his adviser Bilan bin Saqib will become the executive director.

The council includes representatives of the local regulator, the Securities and Exchange Commission, as well as civil servants who deal with legislation and information technology.

The main task of the new council is to develop legislative initiatives for regulating cryptocurrencies, as well as the implementation of successful international practices that help strengthen the local crypto infrastructure. Bilan bin Saqib noted that the Pakistani government aims to make the country more attractive to investors in the cryptocurrency sector and become an active participant in the global digital economy.

In November, the Pakistani Ministry of Finance introduced amendments to the legislation, according to which cryptocurrencies can be recognized as legal tender. These proposals are now awaiting consideration and approval by the parliament.