ISLAMABAD — The federal government has formally constituted the Pakistan Crypto Council under Prime Minister Shehbaz Sharif’s directives to create a regulatory and operational framework for cryptocurrency in the country, the National Assembly was informed on Friday.
Federal Minister for Parliamentary Affairs Tariq Fazal Chaudhry said the move neither promotes nor discourages cryptocurrency but seeks to bring it under a lawful system to ensure financial transparency and prevent misuse. He emphasized that the framework will help curb illegal transactions and money laundering risks associated with unregulated digital currencies.
The minister clarified that there is currently no evidence of cryptocurrency being used for hawala or other illicit activities in Pakistan, but proactive regulation is necessary to prevent future exploitation. A special assistant to the prime minister has been tasked with developing a crypto policy aligned with international best practices and technological standards.
Chaudhry highlighted Pakistan’s focus on integrating emerging technologies such as artificial intelligence into governance and the economy. He assured lawmakers that all financial reforms, including crypto regulation, will comply with Islamic principles and invited parliamentary input for shaping the framework.
