Pakistan is preparing to take a decisive step towards the digital future with the creation of the Pakistan Digital Assets Authority (PDAA), a new national body tasked with regulating the growing crypto and blockchain ecosystem.
After years of regulatory uncertainty, the government has decided to adopt a proactive approach, with the aim of attracting global investments, protecting consumers, and positioning the country as a regional leader in financial innovation.
The official announcement arrived on May 21 through the state television PTV, marking a radical change in the economic and technological policy of Pakistan.
Beyond crypto: tokenization and regulated mining for Pakistan
The new PDAA will be the main supervisory body for all activities related to digital assets, including cryptocurrency exchange platforms, digital wallets, custody services, tokenized platforms, stablecoin, and decentralized finance services (DeFi).
The Ministro delle Finanze, Muhammad Aurangzeb, emphasized the strategic importance of this initiative:
“With the PDAA we are creating a forward-looking regulatory framework that protects consumers, attracts global investments, and places Pakistan at the forefront of financial innovation.”
The mandate of the PDAA will not be limited to the regolamentazione of cryptocurrencies.
The entity will also have the task of tokenizing national assets and public debt, exploring regulated Bitcoin mining as a method to monetize excess electricity, and supporting startups engaged in the development of blockchain-based infrastructure.
This vision aligns with the recommendations of the Cryptocurrency Council, an advisory body established in March, which includes among its members the former CEO of Binance Changpeng Zhao.
The president of the council, Bilal Bin Saqib, stated:
“It is not just about cryptocurrencies, but about rewriting our financial future, expanding access, and creating new export channels through tokenization, digital finance, and Web3 innovation.”
Pakistan has witnessed a rapid evolution in its regulatory stance. Just a year ago, the authorities had ruled out the possibility of legalizing cryptocurrencies, citing concerns related to money laundering.
However, the growing local adoption has prompted the government to reconsider its position.
According to the Crypto Adoption Index 2024 by Chainalysis, Pakistan ranks ninth globally for cryptocurrency adoption.
Furthermore, data from Statista indicates that the number of crypto users in the country could exceed 27 million by 2025, with an estimated market revenue of 1.6 billion dollars.
International Collaboration: the agreement with WLFI
To further strengthen Pakistan’s commitment in the digital sector is the agreement signed last April with World Liberty Financial (WLFI), a DeFi project supported by the Trump family.
On April 26, the co-founders of WLFI — Zak Folkman, Zach Witkoff, and Chase Herro — met with the Pakistani Prime Minister and senior government officials to formalize a Letter of Intent (LOI) with the Pakistan Crypto Council.
The goal of this partnership is to promote the adoption of blockchain and accelerate the growth of DeFi in the country, through the creation of regulatory sandboxes where financial solutions based on blockchain. can be tested.
During a meeting with an international delegation interested in investments in cryptocurrencies and the development of blockchain, Minister Aurangzeb reiterated the importance of exploring the potential of the sector, rather than dismissing it.
Among the participants in the delegation were prominent names such as Gentry Beach Jr., an investor who has pledged one billion dollars in funding to Pakistan, the tech entrepreneur Nikita Goldsmith, the blockchain consultant Alex Malkov, and the CEO of Cosmic Wire, Jerad Finck.
Pakistan towards a digital future
With the creation of the Pakistan Digital Assets Authority, the country is preparing to become a regional hub for financial and technological innovation.
The initiative represents a paradigm shift that could not only transform the national economic system, but also offer new opportunities for growth, employment, and technological development.
In a global context where blockchain and decentralized finance are redefining the rules of the game, Pakistan chooses not to be left behind.
On the contrary, it positions itself as a protagonist of a new digital era, ready to seize the opportunities offered by a rapidly expanding market.
