Pakistan’s Minister Declares Bitcoin and Digital Assets Essential for New Financial System

Pakistan’s Minister of State for Crypto and Blockchain, Bilal Bin Saqib, has signaled a major shift in the country’s economic policy, stating that Bitcoin and digital assets are crucial for establishing a new financial system to benefit its 240 million citizens.

• A New Economic Engine: Saqib, who also chairs the Pakistan Virtual Assets Regulatory Authority (PVARA), asserted that Pakistan can no longer rely on outdated models and needs a “new engine”—digital assets—to boost growth.
• Infrastructure, Not Speculation: The official clarified that Pakistan views blockchain and digital assets not as speculative tools or distractions, but as an important part of their financial infrastructure, essential for developing nations.
• Regulatory Goal: Saqib’s primary goal is to transform one of the world’s largest unregulated cryptocurrency markets into a favorable investment environmentby developing a regulated crypto ecosystem as quickly as possible.
  • He compared Pakistan’s potential to that of El Salvador, arguing that a nation 40 times larger, with 70% of its population under 30, should be a quick adopter.
• Adoption and Investment Hub:Pakistan is moving forward with tangible steps to become a digital asset hub:
  • It is preparing to establish a strategic Bitcoin reserve.
  • It is allocating 2,000 megawatts of additional electricity to support Bitcoin mining and AI data centers. This move aims to attract foreign investment and create high-tech jobs.
  • The PVARA began accepting license applications from international crypto firms in September under its new federal regulations.
• Global Standing: This perspective comes as Pakistan continues to gain ground in global crypto adoption, moving up to the third position in Chainalysis’ 2025 Global Crypto Adoption Index.