Catenaa, Tuesday, April 01, 2025-Bilal Bin Saqib, CEO of Pakistan newly formed Crypto Council, has proposed utilizing the country’s runoff energy to power Bitcoin mining operations, an idea presented during the Council’s inaugural meeting on March 21, 2025.
The meeting, which aimed to discuss the future of cryptocurrency regulation in Pakistan, saw participation from top government officials, including lawmakers, the Governor of the Bank of Pakistan, and the Chairman of the Securities and Exchange Commission of Pakistan (SECP).
Saqib’s proposal aligns with the Crypto Council’s broader vision of creating a comprehensive regulatory framework for cryptocurrencies to attract foreign direct investment and establish Pakistan as a global crypto hub.
The formation of the Crypto Council marks a significant shift in Pakistan’s stance on cryptocurrencies.
In 2023, former finance minister Aisha Ghaus Pasha had declared that cryptocurrencies would not be legalized due to anti-money laundering concerns and compliance with the Financial Action Task Force (FATF) guidelines.
However, in November 2024, the government moved toward regulating cryptocurrencies as legal tender, signaling a change in policy direction.
At the March 21 meeting, Senator Muhammad Aurangzeb emphasized Pakistan’s commitment to fostering a digital economy, aiming to build a transparent, future-ready financial ecosystem that attracts investment and empowers the youth.
The meeting also highlighted Pakistan’s strong potential in the cryptocurrency space, given its large, young population and significant remittance market.
