Rising crypto momentum in Pakistan and Global, and Binance’s influential role

Crypto’s Rising Tide in Pakistan

Over recent years, Pakistan has witnessed a remarkable surge in interest in cryptocurrencies. Analysts estimate that there are around 20 to 40 million active crypto users in the country, making Pakistan one of the world’s most crypto-engaged nations . Data from Binance downloads further corroborates this: the Binance app ranks among the top finance apps downloaded in Pakistan .

Young, tech-savvy Pakistanis—about 60% of the population is under 30—are increasingly drawn to crypto as a hedge against inflation and a path to financial innovation .

Government Engagement: From Skeptic to Strategist

Pakistan Crypto Council (PCC)

In a surprising but strategic pivot, the Government of Pakistan launched the Pakistan Crypto Council (PCC) in March 2025, under the Ministry of Finance . The Council, chaired by Finance Minister Muhammad Aurangzeb, brings together regulators like the SBP governor, SECP chairman, and federal secretaries in law and IT .

At its helm is Bilal Bin Saqib, appointed CEO and special assistant to the Prime Minister on blockchain and crypto, with the rank of Minister of State . PCC’s mandate is broad: crafting regulatory frameworks, developing national blockchain policy, promoting digital assets, exploring use cases like remittances, and ensuring compliance with FATF standards .

Regulatory Authority (PVARA) and Bitcoin Reserve

To complement PCC, in July 2025, the government established the Pakistan Virtual Assets Regulatory Authority (PVARA)—a fully-fledged regulatory body to license and supervise virtual asset services .

Another bold move was announced in May 2025: the creation of a national Bitcoin reserve, with government intending to hold positions long-term .

Powering the Digital Economy

Pakistan’s finance ministry allocated 2,000 megawatts of electricity to support bitcoin mining and AI data centers, tapping into unused energy capacity to potentially transform into economic opportunity and tech employment .

Diplomacy Meets Crypto

The government’s cryptocurrency initiative also played a role in international diplomacy. High-profile interactions with the U.S.—including pitching crypto mining, strategic bitcoin reserves, and rare earth minerals—are part of efforts to attract foreign investment and mend economic relations .

Binance’s Influence: CZ Joins the Table

A crucial global link comes via Changpeng Zhao (CZ)—co-founder and former CEO of Binance. In April 2025, PCC appointed CZ as Strategic Adviser, bringing in global expertise on regulatory structures, KYC, custody, and exchange oversight . This collaboration signals Pakistan’s intent to align with international crypto standards and tap into Binance’s deep institutional knowledge.

Previously in 2022, Binance had partnered with Pakistan’s Ministry of Science and Technology to co-host Future Fest Pakistan, a major tech expo that featured Web3, crypto, and blockchain workshops—helping foster early ecosystem interest .

Reflections and Forward Look

Pakistan’s approach marks a significant shift from earlier caution. Where regulators once frowned on crypto, the current unified strategy—with both advisory (PCC) and enforcement (PVARA) wings—is grounded in clear regulatory vision.

Bilal Bin Saqib’s leadership stands out: combining non-profit social entrepreneurship credentials with global network savvy, he’s central to shaping Pakistan’s digital asset future .

However, experts caution that regulation may stifle some aspects of crypto’s decentralized ethos. Watchdog requirements like KYC could dampen enthusiasm, though they are vital for legitimacy and investor protection .

As Pakistan builds these institutions and frameworks, its goal is clear: convert crypto momentum into national opportunity—through remittances, energy efficiency, job creation, and global market integration.

Summary: Pakistan’s Crypto Transformation

Element Overview

User Growth 20–40 million crypto users; Binance app very popular
PCC Launched March 2025, with Bilal Bin Saqib as CEO
PVARA Established July 2025 for licensing and oversight
Bitcoin Reserve National strategic reserve announced May 2025
Electricity Allocation 2,000 MW for mining and AI centers
Binance’s Role CZ appointed strategic adviser; previous event collaboration
Strategic Outlook Blending regulation, innovation, investment, and diplomacy

Pakistan’s move toward crypto regulation and adoption may well set it on the path to become a regional digital finance leader—balancing innovation with governance.