- Crypto trading is popular in Pakistan despite the Central Bank’s warning.
- The report says that Pakistan ranks ninth globally in terms of crypto adoption.
- “We want to attract international investment,” says the CEO of Pakistan Crypto Council.
Karachi: In a bid to woo international investment, Pakistan plans to create a legal structure for cryptocurrency trading. Bloomberg,
In an interview with Bloomberg TVPakistan Crypto Council CEO Bilal bin Saqib said that the purpose of the country is to create a clear regulatory structure to control digital-asset activities to promote the local ecosystem.
Crypto Trading is already popular in the South Asian nation – the fifth largest population in the world – despite the central bank warnings at the risks generated by the industry.
According to Channelis, Pakistan ranks ninth globally in terms of crypto adoption. There are about 15 million to 20 million crypto users in Pakistan, Saqib said in the interview.
“Pakistan is seated on the shore,” Saqib said. “We want to attract international investment because Pakistan is a low-cost high-development market with a population of 60% of the age of 30. We have a web 3 domestic workforce that is ready for construction.”
The Vidyagization Scheme comes after the appointment of Saqib as the Chief Advisor to the Finance Minister for management of digital assets earlier this month. He would recommend to explore the use of artificial intelligence to increase government efficiency, optimize decision -making processes and run innovation in public sector operations, Bloomberg Report.
Some of the major Digital-asset markets in Asia are warming up the industry, inspired by Donald Trump’s Pro-Crypto agenda in the US.
“Trump Crypto is making a national priority and every country including Pakistan has to follow the suit,” Saqib said.
