TechFlow News, February 12: According to a CoinDesk report, Bilal Bin Saqib, Chairman of Pakistan’s Virtual Assets Regulatory Authority (PVARA), stated that cryptocurrencies and blockchain are not luxuries for Pakistan but rather a ladder for the masses. Speaking at the Hong Kong Consensus Conference, Bin Saqib revealed that Pakistan hosts the world’s third-largest retail cryptocurrency market—larger than those of Germany and Japan. Approximately 40 million Pakistani citizens are already trading digital assets without regulatory oversight. Of Pakistan’s total population of 250 million, 70% are under age 30, and over 100 million citizens remain unbanked, lacking access to savings and investment tools.
Regarding last year’s announced Bitcoin strategic reserve initiative, Bin Saqib said the government is integrating its holdings of digital assets into a formal national custodial framework. Suitable locations with surplus electricity for mining operations have already been identified, and economic impact assessments are underway. PVARA is also engaging with global miners and AI computing operators to position Bitcoin mining and AI data centers as mechanisms for converting underutilized energy into national productivity.
