Pakistan Finance Minister Muhammad Aurengzeb, highlighted the crucial role of the Pakistan Crypto Council (PCC) in the configuration of the country’s future in digital assets and blockchain technology.
Speaking at the opening meeting of the Council in Islamabad on Friday, Aurengzeb said that the body would act as a central platform, gathering regulators and interested parties of the industry to develop a responsible and prudent regulatory framework for cryptocurrencies.
He reaffirmed the government’s commitment to promote a transparent financial ecosystem and ready for the future that attracts investment, empowers young people and positions Pakistan as leader in emerging technologies.
The meeting concluded with a consensus on careful navigation of the Pakistan approach to the block chain and cryptocurrencies, ensuring economic stability while maximizing the potential of digital assets.
Earlier this month, the Federal Government officially launched the PCC to regulate and integrate blockchain technology and digital assets in the country’s financial system, according to a statement from the Finance Division.
The announcement follows the recent appointment of Bin Saqib as the main advisor of the Minister of Finance for the Council. The PCC is an initiative supported by the government designed to regulate, promote and incorporate innovations of blockchain and cryptocurrencies in the economic framework of Pakistan.
A declaration of the Finance Division described the formation of the Council as a significant step in the country’s efforts to adopt digital finances, positioning it as a key player in the global change towards Blockchain technology.
The Council will be led by the Minister of Finance, Muhammad Aurengzeb, with its immediate board comprising the governor of the State Bank of Pakistan, the president of the Bolsa and Securities Commission of Pakistan (SECP), the Federal Secretary of Law and the Federal Secretary of IT.
