Islamabad:
Pakistan announced on Saturday that he has initiated an agreement with World Liberty Financial, backed by President Donald Trump, to accelerate the trip towards the legal adoption of digital currencies, in a movement that could follow a series of legal changes to the inch to the cryptographic world.
The Ministry of Finance made the announcement after separate meetings between the delegation World Liberty Financial (WLF) and the head of the army staff, the general also Munir, Prime Minister Shehbaz Sharif and the Deputy Prime Minister Ishaq Dar. The Deputy Prime Minister is very interested in the promotion of cryptocurrencies.
“World Liberty Financial, the Decentralized Finance Platform (DEFI) backed by the president of the United States, Donald Trump, has signed a letter of historical intention (LOI) with the Crypto Council of Pakistan (PCC) to accelerate the innovation of Blockchain, the adoption of stable and the integration of decantralized finance (defi) in the Pakistan,” declared the Ministry of Finance.
The public announcement about the signing of the letter of intent was made a day after President Donald Trump commented on the recent wave of hostilities between India and Pakistan.
“I’m very close to India and I’m very close to Pakistan …
The Ministry of Finance stated that the WLF delegation, including Zachary Folkman, Zachary Witkoff (son of Steve Witkoff, who is the special envoy of the United States to the Middle East), and Chase Herro – met with the leadership of Pakistan, including the prime minister, the head of the army staff, the prime minister, the Minister of Information and the Minister of Information. To formalize cooperation.
He added that cooperation will mark an important step towards the positioning of Pakistan as a world leader in the digital finance revolution.
Earlier this month, Pakistan also appointed Changpeng Zhao, founder of Binance and one of the most influential figures on Web3, as a strategic advisor to the Pakistan crypto council. Zhao had also met with Shehbaz Sharif, Ishaq Dar, Finance Minister Muhammad Aurengzeb and Punjab leadership, in addition to meeting with other key interested parties.
Reuters reported last month that the Trump family has a claim on 60% of Liberty’s world financial operations once the main business is launched.
World Liberty revealed in January that the Trump family had taken control of the business. Two of their co -founders, Cryptographic businessmen Zak Folkman and Chase Herro, were replaced as the world freedom controlle parties by an entity in which the Trump family has a 60%participation, according to Reuters.
The objective of WLF is to allow people to access financial services using cryptographic and intermediaries such as banks in what is called decentralized or defi finance. World Liberty Financial last month raised $ 550 million selling the so -called government tokens. Most of these sales took place after Trump’s electoral victory in November, they show Reuters calculations.
The Ministry of Finance said that Pakistan’s proactive approach demonstrates his commitment to adopt the next wave of financial innovation.
“The Government has indicated plans to announce very soon the comprehensive policies of legalization of cryptography, further strengthening Pakistan’s position as one of the fastest growing cryptographic markets in the world,” according to the Ministry of Finance.
The treatment in cryptocurrencies is until now illegal in Pakistan and the State Bank of Pakistan has recommended gradually adopting the new currencies and starting with centralized digital currencies.
The Ministry of Finance said the letter of intention was signed during the Financial Liberty World Cup meeting and the Pakistan Crypto Council. The meeting included the Minister of Finance of Pakistan, the CEO of the Council, the State Bank of the Governor of Pakistan, President Secp and the Federal Secretary of Information Technology.
The scope of cooperation between the Crypto Council of Pakistan and the World Liberty Financial describes the collaboration in the launch of the regulatory sandboxes for the tests of financial products Blockchain, facilitating the responsible growth of the Defi protocols and the exploration of the token of real world assets as real estate and real estate products.
Among other areas of cooperation are Stablecoin applications for remittances and trade, and provide strategic advice on blockchain infrastructure and global regulatory trends, according to the Ministry of Finance.
The Ministry said that Pakistan offers one of the most promising digital economies in the world, with more than 64% of its population under 30. The country is among the best in global cryptography adoption, with an estimated $ 300 billion in annual cryptographic transactions and 25 million active crypto users.
With a growing mobile penetration, a vibrant independent economy and a strong interest of the government in Blockchain, the young people of Pakistan are uniquely positioned to boost the next wave of web3 innovation, he added.
Pakistan’s youth and technology sector are our best assets. Through associations like this, we are opening new doors for investment, innovation and global leadership in Blockchain’s economy., Said finance minister Muhammad Aurengzeb
The CEO of the Crypto Council of Pakistan, Bin Saqib, added that collaboration with World Liberty Financial is more than an association: it is a strategic movement to empower our young population and integrate Pakistan into the future of global finances.
Liberty’s global financial leadership praised Pakistan’s dynamism, stating: “Pakistan’s vision and talent make him one of the most exciting places in the world to build the future of decentralized finances.”
Meanwhile, information minister Attaullah Tarar said there were good opportunities related to cryptographic currency in Pakistan.
Speaking on the occasion of signing agreements between the Crypto Council of Pakistan and the Financial Liberty World Cup, Tarar said that a cryptographic council has been established in Pakistan.
“Pakistan has advanced related to cryptography in a very short time,” Tarar said.
The minister commented that there were attractive investment opportunities in several sectors in Pakistan.
Executive Director of the Crypto Council of Pakistan Bilal Bin Saeed and co -founder of World Liberty Financial Zach Witkoff also spoke with the media.
Bin Saeed welcomed the co-founder of World Liberty Financial Zach Witkoff in Pakistan.
Speaking on the occasion, Zach Witkoff said that Pakistan was a rapid emergency economy and that there were investment opportunities.
