Pakistan to legalise crypto to attract foreign investment

The Pakistani government is preparing a legislative framework to regulate cryptocurrency transactions in an effort to attract foreign investments and support the development of the local digital economy. The announcement was made by Bilal bin Saqib, CEO of the Crypto Council of Pakistan, in an interview with Bloomberg TV.

According to official statements, the new legislative framework will provide clarity on the use of digital assets, allowing individuals and companies to trade Bitcoin and other cryptocurrencies in a regulated environment. Pakistan, already among the countries with the highest number of crypto users—estimated between 15 and 20 million—aims to become a regional hub for the blockchain industry.

"We don't want to be just spectators in this technological revolution. We want to establish clear rules and provide opportunities for startups and investors," Saqib stated.

The Pakistani government is working closely with entities from the United Arab Emirates, Nigeria, and Turkey to understand the best regulatory practices. Additionally, an equitable taxation system is being considered to encourage market growth and attract international capital.

With this move, Pakistan aligns itself with a global trend where governments are beginning to treat cryptocurrencies as strategic assets. Recently, the U.S. announced measures to legally support Bitcoin usage, while countries like El Salvador and the United Arab Emirates have adopted policies favorable to the blockchain industry.