Pakistan is planning to create a legal framework for crypto to try to lure international investors to the Central Asian country.
“Pakistan is done sitting on the sidelines; we want to have regulatory clarity; we need to have a legal framework that is pro-business,” Pakistan Crypto Council CEO Bilal Bin Saqib told Bloomberg on March 20.
“We want Pakistan as the leader in blockchain-powered finance, and we want to attract international investment,” he added. “Sixty percent of the population is under 30 [years old], we have a Web3-native workforce ready to build.”
Earlier this month, Saqib was named chief adviser to Pakistan’s finance minister for the management of cryptocurrencies.
Blockchain analytics firm Chainalysis ranked Pakistan ninth for crypto adoption last year, and Saqib claimed there were up to 20 million Pakistani crypto users.
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