The Pakistan Crypto Council (PCC) is set to hold a meeting on June 2 to discuss the regulatory framework for digital currencies, according to a statement issued by the Ministry of Finance on Friday.
Formed in March, the PCC aims to bring blockchain technology and digital assets into Pakistan’s financial system through formal regulation and integration.
Finance Minister Muhammad Aurangzeb will chair the upcoming session, which will serve as a key platform for discussing legal and regulatory approaches for cryptocurrencies and digital assets in the country.
PCC CEO Bilal Bin Saqib, along with other council members, will be in attendance. The meeting’s agenda includes formulating a comprehensive regulatory system that aligns with international standards and keeps pace with technological progress.
A major topic will be the proposed creation of the Pakistan Virtual Assets Regulatory Authority (PVARA), an independent entity envisioned to oversee and manage the country’s digital finance and crypto ecosystem.
The Ministry emphasized that PCC’s broader mission is to develop a secure, transparent, and innovation-driven regulatory environment, ensuring investor protection and promoting financial inclusion through responsible blockchain adoption.
The meeting highlights the government’s commitment to building a modern financial infrastructure that supports stability while adapting to the evolving digital economy.
A day prior, the National Assembly’s Standing Committee on Finance reviewed a bill introduced by PPP MNA Sharmila Farooqi regarding cryptocurrency regulation. During the session, Finance Secretary Imdadullah Bosal confirmed that although cryptocurrency is still banned in Pakistan, regulatory measures are urgently needed.
On the same day, Bilal Bin Saqib also announced the launch of Pakistan’s first government-backed Strategic Bitcoin Reserve, including a national bitcoin wallet. This reserve, holding digital assets already in government possession, is intended to demonstrate the state’s long-term confidence in decentralized finance — not for trading or speculation.
While cryptocurrencies are gaining global traction, regulatory approaches vary. Some countries, like El Salvador, have adopted them as legal tender, whereas in nations such as Pakistan, India, and China, ownership and usage remain restricted or undefined.
