On April 7, according to market news, Pakistan officially appointed Binance co-founder Changpeng Zhao (CZ) as the country's cryptocurrency strategic advisor. This appointment not only marks Pakistan's ambition in the regulation and development of digital assets but also highlights CZ's ongoing influence as a leading figure in the cryptocurrency industry. Against the backdrop of emerging markets around the world embracing blockchain technology, this move by Pakistan may garner more attention for the country on the South Asian and international stage.

In recent years, Pakistan has shown impressive performance in cryptocurrency adoption. According to the latest report from blockchain analysis firm Chainalysis, the country ranks high in the global cryptocurrency adoption index, with approximately 15 to 20 million active users, a significant proportion of its 240 million population. This phenomenon is closely related to the country's youthful demographic structure—over 60% of Pakistanis are under the age of 30, showing a strong interest in emerging technologies. Bilal bin Saqib, head of the Pakistan Crypto Council, stated in an interview with Bloomberg, "Our goal is to make Pakistan a cryptocurrency hub in South Asia, competing with places like Dubai and Singapore, and a clear policy framework is key to attracting international investment."

However, the development of cryptocurrency in Pakistan has not been smooth sailing. For a long time, the country's central bank—the State Bank of Pakistan (SBP)—has taken a cautious stance towards digital assets, not recognizing them as legal tender and repeatedly warning of potential money laundering and financial risks. Nevertheless, public enthusiasm for cryptocurrencies has not waned, with peer-to-peer (P2P) trading and underground markets thriving. In early 2025, signals from the government indicated that it was studying the formulation of a comprehensive cryptocurrency regulatory framework to balance innovation and risk. CZ's appointment is seen as a catalyst for this process, undoubtedly bringing a global perspective and practical experience to Pakistan.

CZ's appointment as a cryptocurrency strategic advisor by Pakistan is an important step in his return to the industry stage. According to Bitcoin Magazine, after accepting this role, CZ stated, "Pakistan has tremendous potential, and I look forward to working with the local government and community to build a healthy and sustainable crypto ecosystem." He further wrote on the X platform, "This is an exciting opportunity; cryptocurrency is changing the rules of the global economy, and Pakistan is at the forefront of this transformation." These remarks have sparked widespread discussion, with many industry insiders believing that CZ's involvement will bring a "triple boost" of technology, compliance, and international cooperation to Pakistan.

This move by Pakistan is not an isolated event but part of a global cryptocurrency boom in emerging markets. From Nigeria to India and Latin American countries, more and more governments are beginning to recognize the potential of digital assets and are attempting to seize the initiative through policy innovation. Pakistan's neighbor, India, is also exploring paths to legalize cryptocurrencies, while Dubai in the Middle East has become a hub for global blockchain companies. In this competitive landscape, if Pakistan can leverage CZ's influence to develop an attractive regulatory framework, it may stand out in the region.

At the same time, CZ's appointment continues his connection with emerging markets. Previously, he provided blockchain technology advice to Kyrgyzstan and supported earthquake recovery efforts in Thailand and Myanmar through cryptocurrency donations. These experiences demonstrate CZ's deep understanding of the technological needs and policy environments of developing countries, undoubtedly enhancing Pakistan's confidence in this collaboration.

For the global cryptocurrency industry, this event further proves the penetration of digital assets in emerging markets. Pakistan's young population, increasing internet penetration, and desire for economic transformation provide a broad stage for cryptocurrencies. CZ's involvement is like lighting a beacon, illuminating Pakistan's path toward a crypto future. It is foreseeable that as policies gradually take shape, Pakistan may occupy a place in the global cryptocurrency landscape, and CZ's name will be closely linked to this process.

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