HONG KONG: Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority Bilal Bin Saqib says that Pakistan is ready for the digital economy and has established a comprehensive regulatory framework for virtual assets in less than six months.
Addressing the Bitcoin Asia conference in Hong Kong, he said the feat was achieved with limited resources and by utilizing only 8 percent of the approved budget, while 92 percent was returned to the national exchequer.
He said Pakistan has created a formal regulatory pathway for digital asset businesses, covering activities including exchanges, custody, brokerage, and asset management, incorporating requirements relating to anti-money laundering, counter-terror financing, consumer protection, and cybersecurity.
He said Pakistan will now focus on emerging areas including tokenized markets, programmable payments, and stablecoins, while also developing regulations for agentic payments and the emerging agentic economy, drawing international acclaim for its cost-effective governance model.