The Crypto Council will be a specialized advisory body that will include representatives from government, regulators, and industry experts.
Feb 27, 2025 11:19 UTC
What you should know:
- Until last year, the country's finance ministry opposed regulating cryptocurrencies.
- The Treasury Secretary also attended a meeting with a group of foreign delegates, including Trump's digital asset advisers.
Pakistan has announced the creation of a national cryptocurrency council to draft legislation in the area after meeting with President Donald Trump's digital asset advisers, according to local news outlet Dawn.
The council will be a specialised advisory body comprising government officials, regulators and industry experts. It will oversee policy development and work with other countries to create common standards, the report said, citing a statement from the Treasury Department.
The country's finance ministry has previously been reluctant to regulate cryptocurrencies, but Finance Minister Muhammad Aurangzeb said he would approach the issue with an open mind, according to his statement. He also stressed the importance of a well-structured regulatory framework for digital assets, as stated in the report.
On Tuesday, Aurangzeb also attended a meeting with a foreign delegation that reportedly included President Donald Trump's digital asset advisers.
Countries around the world are watching the United States, which has been taking steps to create a crypto-friendly environment since Trump's election.
CoinDesk was unable to reach the Treasury Department for comment.
