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The CEO of the Pakistan Cryptocurrency Committee, Bilal Bin Saqib, proposed on March 21 during the committee's first meeting to utilize the country's surplus energy to support Bitcoin (BTC) mining.
According to an article in The Nation, the committee is exploring a comprehensive regulatory framework for cryptocurrencies to attract foreign direct investment and position Pakistan as a cryptocurrency hub.
Attendees of the meeting included lawmakers, the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Secretary of the Federal Ministry of Information Technology. Senator Muhammad Aurangzeb commented on the meeting: "This marks the beginning of a new digital chapter for our economy. We are committed to building a transparent, future-oriented financial ecosystem that attracts investment, empowers our youth, and positions Pakistan as a leader in emerging technologies on the global stage."
The establishment of the cryptocurrency committee signifies a stark shift in the Pakistani government's stance on cryptocurrency issues. In May 2023, former State Minister for Finance and Revenue Aisha Ghaus Pasha stated that cryptocurrency would never be legalized in the country.
Pasha noted that the Financial Action Task Force (FATF) anti-money laundering restrictions were the main reason for the government's anti-cryptocurrency position.
The presence of Bitcoin miners helps stabilize the power grid. Source: Science Direct
Pakistan Follows the U.S. in Embracing Cryptocurrency
On November 4, 2024, the same day as the U.S. elections, the Pakistani government took action to regulate cryptocurrency as legal tender.
After Donald Trump successfully secured re-election in the U.S. and held his inauguration on January 20, he quickly implemented favorable policies for cryptocurrency at the federal level.
On January 23, President Trump signed an executive order establishing a Digital Assets Working Group—an advisory committee tasked with exploring comprehensive regulatory reforms for digital assets.
President Trump signs an executive order to establish the Presidential Digital Assets Working Group. Source: The White House
The executive order from January 23 also prohibited the government from researching, developing, or issuing central bank digital currencies (CBDCs).
In March 2025, President Trump signed another executive order creating a Bitcoin Strategic Reserve and an independent digital asset reserve, which is likely to include cryptocurrencies issued by domestic U.S. companies.
Related: Pakistan Focuses on Cryptocurrency Legal Framework to Attract Foreign Investors
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