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Pakistan proposes compliance-based crypto regulatory framework — Report

Regulators in Pakistan have proposed a regulatory framework for digital assets that is compliance-focused, in accordance with rules laid out by the Financial Action Task Force (FATF), the supranational organization that...

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Pakistan proposes compliance-based crypto regulatory framework — Report

Regulators in Pakistan have proposed a regulatory framework for digital assets that is compliance-focused, in accordance with rules laid out by the Financial Action Task Force (FATF), the supranational organization that polices finance for money laundering, The Express Tribune reported.

According to the report, Pakistan's Federal Investigation Agency (FIA) introduced the regulatory framework to address terrorism financing, money laundering provisions, and Know Your Customer (KYC) controls enforced by the supranational organization. The report cited FIA Director Sumera Azam as saying:

"This is a paradigm shift in how Pakistan views digital finance. The policy proposal seeks to strike a historic balance between technological advancement and national security imperatives.”

The proposed framework is subject to legislative approval and input from digital asset firms operating in the country, with an expected multi-phased rollout beginning in 2026.

Regulators in Pakistan recently spearheaded a regulatory pivot embracing cryptocurrencies after being explicitly anti-crypto for years. The government's anti-crypto stance hit a crescendo in 2023 when Pakistani officials called for a country-wide ban on digital assets.

Appointments to the Pakistan Crypto Council. Source: Bilal Bin-Saqib. Source: Bilal Bin-Saqib

Related: Pakistan eyes crypto legal framework to boost foreign investment

Pakistan embraces the future of money in regulatory shift

In May 2023, former minister of state for finance and revenue, Aisha Ghaus Pasha said that Pakistan would never legalize cryptocurrencies due to the potential for digital assets to circumvent FATF regulations.

Less than two years later in February 2025 the Finance Ministry of Pakistan signaled a seismic regulatory shift by forming the Pakistan Crypto Council to establish clear crypto regulations in the country and attract foreign investment.

"Pakistan is a low-cost, high-growth market, with 60% of the population under 30. We have a web3 native workforce ready to build," CEO of the Pakistan Crypto Council Bilal bin Saqib said in a March 20 X post.

Binance co-founder Changpeng Zhao meets with Pakistan foreign minister Ishaq Dar. Source: Pakistan’s Ministry of Foreign Affairs

The Council is exploring using excess energy to mine Bitcoin (BTC) as part of a broader effort to turn Pakistan into an international hub for crypto mining.

On April 7, the Council appointed Binance co-founder Changpeng Zhao as a crypto adviser to guide the organization's policy efforts.

Magazine: How crypto laws are changing across the world in 2025

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