Pakistan considers crypto council after meeting with Trump advisors

Pakistan is considering establishing a "National Crypto Council" to explore the legalisation of cryptocurrencies in the country.

This decision follows a meeting between Finance Minister Muhammad Aurangzeb and a foreign delegation that included advisors to U.S. President Donald Trump.

The proposed council will include key government representatives, regulatory authorities, and industry experts.

It will be tasked with overseeing policy development, addressing regulatory challenges, and ensuring the country’s crypto ecosystem evolves in a secure and sustainable manner.

The council will also collaborate with friendly countries to develop standardised frameworks for international digital economic engagement.

The move marks a shift in Pakistan's stance on digital assets, as the Finance Ministry and State Bank of Pakistan had previously opposed the idea of cryptocurrencies.

Finance Minister Aurangzeb has now called for approaching the legalisation and regulation of crypto with "an open mind."

In November 2024, the State Bank of Pakistan announced proposals that would have paved the way for a central bank digital currency (CBDC) and the buying, selling, and trading of crypto.

The foreign delegation that met with Aurangzeb included Gentry Beach Jr., a business associate of President Trump; Nikita Goldsmith, a tech entrepreneur; Alex Malkov, a blockchain consultant; and Jerad Finck, CEO of Cosmic Wire.

The U.S. Embassy did not officially announce the delegation's visit.

The participants discussed the global evolution of cryptocurrency, its increasing adoption, and the regulatory frameworks being implemented internationally, in line with U.S. government policies.