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The Pakistani government has appointed a special assistant to the prime minister on blockchain and cryptocurrency, a local news outlet reported on Monday.
Bilal Bin Saqib to Lead Pakistan’s Crypto Push
Bilal Bun Saqib has been given the new role. He is the chief advisor to the finance minister and the CEO of the Pakistan Crypto Council (PCC). A London School of Economics grad, he also made it to Forbes’ 30 Under 30 and earned an MBE from King Charles III for his social impact work.
Saqib will be responsible for drafting crypto rules that follow FATF standards, leading government Bitcoin mining, and bringing blockchain to areas like land records and finance. He’s been given the rank of a minister of state but will work without a salary or any official perks.
Pakistan Backs Crypto
This move follows a series of government initiatives in Pakistan’s digital space. Recently, the government endorsed the creation of the Pakistan Digital Assets Authority (PDAA), which will oversee crypto exchanges, wallets, stablecoins, DeFi apps, and more.
It was also announced that it will dedicate 2,000 megawatts of extra electricity to bitcoin mining, to support both mining and AI data centers. This initiative is led by the Pakistan Crypto Council (PCC) to boost revenue, create tech jobs, and attract foreign investment.
Former Binance CEO, Changpeng Zhao, joined the Council as an advisor in April, after he served a four-month U.S. prison sentence for breaking anti-money laundering laws.
Pakistan’s Growing Ties With WLF
Pakistan’s growing involvement with cryptocurrency has also raised concerns. One reason why Pakistan may be pushing crypto is due to the dip in its foreign investment, which has dropped 45% in February. In January, Pakistan had also hired a U.S. lobbyist in January to set up meetings in Washington. During a visit, the interior minister even asked for more U.S. investment, according to The Wall Street Journal.
Shortly after that, the country started building ties with the Trump-linked crypto project World Liberty Financial. In April, Bin Saqib joined as an advisor following a visit by co-founder Zach Witkoff, who signed an agreement with Pakistan’s ministry to explore using World Liberty’s stablecoin for trade and remittances.
The WSJ report claimed that Zhao was helping with World Liberty’s foreign connections, but Zhao denied, calling it “another hit piece.” The PCC has signed a series of deals with WLF to boost crypto investment and innovation.
