Minister of State and PVARA chairman Bilal Bin Saqib said on Saturday that Pakistan would soon join the leading group of countries shaping global regulations for digital assets and would, in future, be among those framing the rules for tokenised finance.
Bilal Bin Saqib outlines Pakistan-first digital assets strategy in Zurich
Addressing a global forum in Zurich, Switzerland, Bilal Bin Saqib said traditional financial systems were increasingly becoming automated through software and blockchain technology. Bilal Bin Saqib said on Saturday the government is pursuing a Pakistan-first strategy on digital assets, adding that its responsibility is not to halt economic innovation but to regulate it effectively.
Digital assets race beyond borders
He said geographical borders could not stop this transformation, adding that the issue was no longer whether digital assets should be permitted but who would lead their development.
Bilal Bin Saqib said emerging economies must frame the rules governing their own financial future. Bilal Bin Saqib added that Pakistan had reached third place in the global cryptocurrency adoption ranking and was now among the world's major digital asset markets.
He said Pakistan had adopted digital assets at an early stage and was now preparing a comprehensive regulatory framework to enable the country to play an active role in the reshaping of the global financial system.
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