Pakistan’s push to become a global crypto leader took a significant turn on March 21 when Bilal Bin Saqib, CEO of the Crypto Council of Pakistan, suggested harnessing the country’s surplus energy for Bitcoin mining.
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This proposal, shared during the council’s first official gathering, is part of a broader strategy to position Pakistan as a hub for cryptocurrency innovation. The meeting brought together key figures, including high-ranking officials from Pakistan’s financial sector and government. Alongside discussing energy utilization, the council is also working on creating a regulatory framework aimed at drawing foreign investment and ensuring the country remains competitive in the rapidly evolving digital asset sector.
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Senator Muhammad Aurangzeb highlighted that this initiative signals a new direction for Pakistan’s economy, aiming to build a modern, transparent financial ecosystem that benefits its youth and secures the country’s place on the global tech map.
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This shift marks a notable change from the government’s previous stance, particularly following the strong anti-crypto rhetoric from former finance minister Aisha Ghaus Pasha, who in May 2023, made it clear that the government would never legalize crypto, citing concerns over anti-money laundering compliance under international standards such as those from the Financial Action Task Force (FATF).
However, Pakistan is not alone in its evolving stance on digital currencies. The country’s recent move to regulate cryptocurrencies coincided with global trends, particularly in the U.S., where similar actions have been taken. After the re-election of President Donald Trump in November 2024, the U.S. quickly moved to adopt crypto-friendly policies. In January 2025, Trump signed an executive order to create the Working Group on Digital Assets, focusing on comprehensive digital asset regulations and prohibiting the development of a U.S. central bank digital currency (CBDC). Additionally, the U.S. government has been working to establish a strategic Bitcoin reserve, reflecting the growing importance of digital assets globally.
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Alexander Zdravkov
