With the establishment of the Pakistan Crypto Council (PCC) in March 2025, Pakistan once again made headlines, as it was a state-proposed attempt to mitigate the uncertainty surrounding cryptocurrency and establish an institutional framework. Although this step indicates a rapid change in Pakistan’s digital finance situation, a deeper examination suggests that the PCC’s vision is a burden with strategic losses, and the PCC faces deep structural challenges and strategic risks.
What is the Pakistan Crypto Council?
It was formally inaugurated on 14 March 2025. PCC works under Pakistan’s Finance Ministry. The chairman is Finance Minister Muhammad Aurangzeb, and CEO and D Facto Crypto Minister Bilal bin Saqib. Islamabad also appointed Binance founder Changpeng Zhao as a strategic advisor in April, allowing the council global visibility, according to The Wall Street Journal.
A Technical Committee- SBP, SECP, Law, and IT ministries worked with officials of the Ministries of Law and IT to prepare a regulatory structure in June 2025, in which the virtual assets ordinance, concluded in 2025, and later the creation of the autonomous virtual property regulator of Pakistan.
Early moves: Bitcoin Reserve and Power Allocation
In Bitcoin 2025 (Las Vegas, 28 May), Bilal bin Saqib unveiled Pakistan’s first strategic bitcoin reserve, promising property – a sign of long-term trust in decentralized finance. Along with this, PCC announced the allocation of 2,000 MW of state power to support bitcoin mining and AI data centers. Pakistan’s winter surplus capacity was frozen at the Financial.
What is bitcoin mining and what’s Pakistan progress in bitcoin mining. We cover this topic briefly in our article Bitcoin Crypto Mining in Pakistan.
Why it matters: potential reverse
- Market structure and clarity: Pakistan infection with a lump sum restriction for a defined licensing period.
- Financial Inclusion: PCC aims to integrate ~ 40 million crypto holders of Pakistan into a regulated framework, possibly promoting fintech and global freelancing revenue.
- FDI and Jobs: Analysts estimate that foreign investment is estimated to $ 2-3 billion, and Crypto mining and surplus power-powered data centers.
An important lens: Risk and warning from the analysis of Chohan
Usman W. PDF by Chohan provides a criticism inherent in the delicate institutional scenario of the Pakistan Crypto Council – Warning and Thoughts. Major risks include:
- FATF and AML Risk
Weak virtual asset regulation can renew the weak virtual asset regulation, with the recent FATF gray list of Pakistan. Crito’s underlying oblivion compliance induces risks.
- Macroeconomic delicacy
Pakistan faces inflation, rupee instability, and capital flight pressure.
- Cybersecurity weaknesses
The national wallet, exchange, or mining infrastructure can become a high-priced target in a country that is still creating digital defense systems.
- Elite capture and digital divide
Crypto adoption can be limited to technically literate urban centers. Rural or unrelated population risk is being excluded or exploited, and inequality deteriorates.
- Symbol on the substance
Chohan warned that the PCC becomes a policy risk. Without institutional capacity and real reforms, Crypto ambition can immediately face governance challenges.
- Mining misunderstanding
Unlike surplus electrical claims, Pakistan often faces load shedding and energy wastage. Mining capital and energy are intensive, with limited long-term gains and environmental deficiencies.
While innovation may be necessary, jumping into crypto at this late stage is hardly innovation. It cannot even come to the cost of stability, inclusion.
Pakistan’s public debate and media coverage
Even if PCC moves forward, many government bodies, such as SBPs like SBP, have publicly stated that Crypto is illegal unless there are clear laws. This confusion required a high -level meeting of a high level of June 2 to align the stakeholders.
The meeting included leaders of SBP, SECP, LAW & IT, and prepared the basis for PVARA(Pakistan Virtual Assets Regulatory Authority).
The establishment of PVARA via the Virtual Assets Ordinance, 2025, signed on 8 July 2025, formally formed the virtual assets regulator of Pakistan.
Weight opportunity and Caution
Pakistan’s Crypto’s ambition reverses – but only with careful policy design:
Pro crypto vision
- Regulated framework opens doors for global investment, fintech development, and energy migration.
- Strategic bitcoin reserve visionary displays long-term asset strategy.
Why Chohan’s advice matters
- Without the compliance mechanism, Crypto FATF can invite punishment and destabilize the remittance markets.
- Energy policy should prioritize electrification in speculative mining and renewable energy.
- should be accompanied by inclusion, digital literacy, and safety innovation.
Recommendations for integrity and equity
Change on Chan’s criticism and the reality of the current infrastructure:
- Strengthen AML/KYC through FATF before giving a license to crypto operators.
- Develop a security structure and run tension tests on any national digital wallet or exchange.
- Distribute power in the open. Give first place for renewal, grid strength, and village access.
- Support fair net access.
- Stick to the real cheese: Tax, add cash, and e-gov fix-up before crypto news.
- Ensure recurring regulator sandboxing: allow the experiment, but under controlled inspection of PVARA.
What lies ahead
- Pakistan is on track to pilot a CBDC (Central Bank Digital Currency) through SBP this year, synchronized with comprehensive PCC and PVARA Regulation Express Tribune.
- The report from late July 2025 suggests that Islamabad is rapidly integrating crypto tracking in foreign currency, and even in the shells of the Gold Trading Times of India.
Conclusion
Pakistan Crypto Council is a major step towards digital finance in South Asia, but it is a high-wire act. Without sober regulation, cybersecurity, and equity-centered policy, Crypto’s promise can easily slip into crisis.
The caution of Usman Chohan acts as a reminder at one time: form the substance before symbolism.
Summery
The Pakistan Crypto Council (PCC) is Launched in March 2025. The government-backed ambition aiming to regulate, legal and encourage crypto and blockchain in Pakistan. It will open new opportunities—like a country Bitcoin reserve and development in crypto mining—it may faces major issues and risks like gaps in regulation, energy crisis, and financial instability. This blog post breaks down the promises and dangers of PCC, based on expert analysis and recent government actions. A must-read for crypto investors, policymakers, and tech enthusiasts in Pakistan!
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