Bilal Bin Saqib, Chief Executive Officer (CEO) of the Pakistan Crypto Council (PCC), met with U.S. Senators Bill Hagerty and Rick Scott during his recent visit to New York. This engagement highlights Pakistan’s increasing participation in global crypto policy discussions and its adaptation to the evolving digital finance landscape.
Through its interactions with U.S. policymakers, the PCC aims to inform and shape a regulatory environment in Pakistan that is globally aligned, inclusive, and conducive to innovation.
Senator Hagerty, a prominent advocate for responsible financial innovation, is the lead sponsor of the GENIUS Act of 2025 (Guiding and Establishing National Innovation for US Stablecoins). This proposed legislation introduces a comprehensive regulatory framework for payment stablecoins in the U.S., designed to promote financial inclusion, ensure 1:1 asset backing, and reinforce U.S. leadership in digital currency governance.
Separately, Senator Rick Scott, recognized for his firm stance on privacy and digital freedom, co-sponsored the CBDC Anti-Surveillance State Act. This bill seeks to prevent the direct issuance of a central bank digital currency (CBDC) to individuals. Senator Scott has consistently championed the protection of civil liberties and worked to ensure that digital finance solutions do not compromise individual privacy or lead to excessive state control.
With annual remittances exceeding $36 billion, Pakistan sees significant potential in stablecoins to reduce costs, enhance transparency, and improve access for its underbanked populations. The GENIUS Act serves as a potential model for emerging markets like Pakistan, which are exploring similar strategies for integrating digital assets into their financial systems. The PCC’s discussions underscored the value of such legislative clarity and its capacity to guide Pakistan’s own regulatory evolution.
Field Marshal Munir Engages with PCC Chief on Tech Future
Pakistan has unveiled plans to regulate its extensive informal crypto market and strategically position itself as a regional hub for blockchain, artificial intelligence, and digital finance. This initiative is part of a broader national strategy to leverage the country’s youthful demographics and surplus energy for economic transformation.
In a high-level meeting at the General Headquarters on Friday, Chief of Army Staff Field Marshal Asim Munir met with PCC CEO Bilal Bin Saqib to discuss the strategic potential of emerging technologies. The conversation primarily focused on harnessing blockchain, cryptocurrency, and AI to empower the youth and build economic resilience.
“The [PCC] exists because our youth demand a seat at the global tech table,” Saqib informed the meeting, emphasizing that digital finance and decentralization present opportunities rather than threats.
This dialogue occurs amid an acceleration of regulatory efforts. On Wednesday, the Ministry of Finance announced the establishment of the Pakistan Digital Assets Authority (PDAA), a dedicated body tasked with overseeing blockchain infrastructure and the regulation of virtual assets. This move signifies a major step toward formalizing a market estimated to have an annual crypto trading volume exceeding $300 billion.
Finance Minister Muhammad Aurangzeb stated that the PDAA would create “a secure, innovative and inclusive ecosystem for virtual assets” and contribute to positioning Pakistan as a regional leader in digital finance and blockchain regulation. He added that this initiative would also facilitate the tokenization of public assets and government debt, enable regulated Bitcoin mining using surplus electricity, and provide legal clarity for global investors.
This announcement reflects a growing urgency within Pakistan’s leadership to transition towards a tech-led growth model. With over 70% of its 240 million population under the age of 30, Pakistan possesses one of the most favorable demographics for digital adoption. The country ranks among the top five globally for crypto usage and is the world’s third-largest freelancer market, with more than 50,000 IT graduates entering the workforce annually.
