Pakistan officially launched the Pakistan Crypto Council (PCC) on March 14, 2025, marking a major shift in the country’s financial landscape. In order to join the global crypto adoption race, the government-backed initiative focuses on regulating and integrating blockchain technology, establishing clear crypto regulations, fostering innovation, and ensuring financial security.
The move follows a meeting on February 25, 2025, between Finance Minister Muhammad Aurangzeb and a foreign delegation. The government had hinted at the possibility of forming a National Crypto Council, and weeks later, the announcement became official. Pakistan is now setting itself up for a more structured and controlled approach to digital currencies.
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The Leadership Team
The leadership team is composed of top government and financial leaders. It is headed by Finance Minister Muhammad Aurangzeb, and Bilal Bin Saqib is the Chief Executive Officer. The other board members include the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), the Federal Law Secretary, and the Federal IT Secretary.
Bilal Bin Saqib, CEO of the council, reinforced this vision by highlighting the broader goal beyond regulations by stating:
This council is not just about regulations; it’s about creating an ecosystem where blockchain and digital finance can thrive.
Pakistan’s Past Stance on Cryptocurrency
Pakistan’s stance on cryptocurrencies has gone through multiple phases, from outright bans to cautious acceptance. The State Bank of Pakistan (SBP) first restricted digital currencies in 2018 and banned financial institutions from dealing with cryptocurrencies like Bitcoin and Litecoin. The primary concern behind this ban was the risk of misuse in illicit activities.
In November 2020, the stricter crypto stance slightly shifted when the Securities and Exchange Commission of Pakistan (SECP) released a position paper exploring possible regulations for digital assets. At that point, the country moved toward a softer stance and opened the doors to understanding and potentially integrating crypto into the financial system.
However, in May 2023, the government once again renewed its ban on cryptocurrency transactions, citing illegal digital currency activities and compliance with international financial standards. Despite the restrictions, crypto adoption kept growing, with many citizens using digital assets as a hedge against economic instability.
Now, in 2025, the launch of the Pakistan Crypto Council comes amid the policy shift from banning to regulating and integrating crypto into the economy. The government now aims to explore blockchain integrations into the national finance sector with an ambition to join other countries to adopt cryptocurrency.
Council Operations and Roadmap
The Pakistan Crypto Council has laid out a clear roadmap for crypto adoption and blockchain regulation. The focus will be on policy development, industry engagement, and global collaboration to make Pakistan ahead of global competition in the digital finance sector.
According to the Finance Division’s statement, the key priorities of the council include:
- Developing clear regulatory policies to ensure a safe and structured crypto ecosystem.
- Engaging international blockchain organizations to adopt global best practices.
- Encouraging responsible innovation by collaborating with startups, investors, and developers.
- Ensuring financial security and consumer protection through robust legal and compliance frameworks.
Pakistan Joins the Crypto Adoption Race
The Pakistan Crypto Council represents a major milestone in embracing digital finance, but it also aligns with a global trend of increasing crypto adoption. At the launch, Finance Minister Aurangzeb emphasized the global shift toward digital finance and Pakistan’s ambition to lead in the sector. He said:
The world is moving rapidly toward digital finance, and Pakistan wishes to be a leader in the space. […] We are committed to fostering a responsible and progressive crypto ecosystem that can contribute to Pakistan’s economic growth.
Most Crypto-Friendly Countries
In 2025, the most crypto-friendly nations include Switzerland, Singapore, Portugal, Germany, Malta, UAE, El Salvador, Estonia, Canada, and Australia. Each country has clear policies, tax incentives, or progressive regulatory approaches that attract crypto businesses and investors.
| Country | Why It’s Crypto-Friendly |
|---|---|
| Switzerland | Clear regulations; Zug’s Crypto Valley; Swiss banks integrate crypto services. |
| Singapore | No capital gains tax; clear guidelines by MAS; thriving blockchain ecosystem. |
| Portugal | No personal income tax on crypto; government supports blockchain initiatives; appealing expat lifestyle. |
| Germany | Tax-free holding beyond one year; supportive blockchain policies; adoption by major companies and banks. |
| Malta | Comprehensive crypto regulations; competitive business taxes; growing blockchain industry. |
| United Arab Emirates (UAE) | Zero income/capital gains taxes; proactive blockchain strategies; long-term visas for investors. |
| El Salvador | Bitcoin as legal tender; tax exemptions on Bitcoin investments; integration in daily economy. |
| Estonia | E-residency for businesses; advanced digital tech; clear crypto regulations. |
| Canada | Balanced regulations; growing blockchain startups; energy-efficient crypto mining. |
| Australia | Transparent crypto taxes; government blockchain initiatives; consumer protections. |
Among them, Switzerland remains a top destination, with its Crypto Valley in Zug, while Singapore continues to lead with its tax-free gains on crypto investments. Portugal and Germany offer long-term tax incentives, and Malta’s strong legal frameworks make it a hub for blockchain companies. El Salvador, despite challenges, remains a pioneer as the first country to make Bitcoin legal tender.
Czech Republic has also been developing pro-crypto tax regulations – we described it in this article.
