TechFlow reported on March 16, according to Cryptoslate, that the Pakistani government has established the Pakistan Crypto Council (PCC) to oversee the integration and use of blockchain technology and digital assets within the country's financial sector. The PCC’s agenda includes establishing clear regulatory guidelines for cryptocurrency adoption, collaborating with international crypto and blockchain organizations, and promoting responsible innovation. The council will also focus on consumer protection and financial security through robust legal and compliance frameworks.
Finance Minister Muhammad Aurangzeb will chair the council, leading a diverse group that includes senior officials from key financial and regulatory institutions. This leadership team comprises the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Federal Ministers for Law and Information Technology, aiming to ensure a comprehensive approach to regulatory oversight, financial stability, and technological advancement.
Pakistan is currently one of the countries with the highest cryptocurrency adoption rates, with an estimated 20 million active crypto users and over $20 billion in cryptocurrency transaction volume.
