Pakistan Transitions from Crypto Prohibition to Regulation, Eyes Tech Export Hub, Regulator Tells CNN Business Arabic
Pakistan is shifting away from its long-standing ban on digital assets toward establishing a comprehensive regulatory framework for cryptocurrencies. In an exclusive interview with CNN Business Arabic, Bilal Bin Saqib, Head of Pakistan’s Virtual Assets Regulatory Authority, stated that the country aims to transform itself from a consumer of technology into an active creator and exporter of digital innovations.
Bin Saqib confirmed that cryptocurrencies are now legal in Pakistan following years of restrictive policies. He noted that the government acted swiftly under state directives to establish a specialized virtual assets regulator, aligning the nation with the rapid modernization of global financial market architecture.
"The financial system's underlying infrastructure is undergoing a complete transformation," Bin Saqib said, emphasizing that domestic crypto adoption had already expanded significantly among citizens despite central bank prohibitions first introduced in 2018.
Pakistan Digital Assets Framework Overview
The table below outlines the core dimensions and regulatory parameters of Pakistan's digital asset reform:
Strategic DimensionDetails & Policy Framework
Regulatory StanceTransition from a 2018 central bank ban to formal legalization and regulatory integration
Governing AuthorityVirtual Assets Regulatory Authority
Key SpokespersonBilal Bin Saqib (Head of the Authority)
Media SourceCNN Business Arabic Exclusive Interview
Primary National ObjectiveEvolving Pakistan into a regional hub for developing and exporting blockchain technologies
Primary CatalystsHigh organic retail adoption and systemic shifts in global financial architecture
Key Strategic Drivers & Market Takeaways
Formalizing Organic Demand: Recognizing that previous bans from 2018 failed to stem widespread domestic adoption, Pakistani authorities have moved to bring digital asset activity under a regulated, institutional framework.
Export-Oriented Tech Strategy: The policy shift is designed to encourage domestic development, incubate local fintech and blockchain talent, and build export-capable digital infrastructure.
Institutional Alignment: Establishing a dedicated regulatory authority provides domestic and foreign market participants with regulatory clarity, supporting anti-money laundering (AML) compliance and investor protection standards.