Public-private collaboration is shaping Pakistan’s crypto economy

The following is a guest post and opinion from Vince Kadar, CEO of Polymath.

The global crypto landscape is evolving rapidly, and Pakistan is no exception. US President Donald Trump’s pro-crypto policies have influenced the Pakistani government’s stance, transforming it from a crypto-averse nation into one that is actively working to build a crypto-friendly economy. Leading this shift is the Pakistan Crypto Council (PCC), which is playing a crucial role in formulating a comprehensive regulatory framework—a move reminiscent of similar efforts in the United States.

However, for Pakistan to establish itself as a true crypto hub and attract foreign direct investment (FDI), government efforts alone are not enough. Public-private collaboration is essential to educating policymakers, shaping legal frameworks, and ensuring the sustainable growth of Pakistan’s digital financial ecosystem.

Pakistan Crypto Council Follows the American Model

A look at recent global political events reveals the ideological foundation of the Pakistan Crypto Council and its policy direction.

In May 2023, Aisha Ghaus Pasha, a former Pakistani Minister of State for Finance and Revenue, said crypto would never be legal in Pakistan. The move came after the Financial Action Task Force (FATF) removed Pakistan from its gray list and set strict anti-money laundering restrictions.

A year later, on November 4, 2024, the Pakistani government changed its anti-crypto stance and considered regulating cryptocurrencies as legal tender. It’s not a coincidence that the US elections were held on the same day.

After Donald Trump won, he signed an executive order in January 2025 to form a Working Group on Digital Assets. The Group was an executive advisory council responsible for exploring a comprehensive digital asset regulatory framework.

Soon after, the Finance Ministry of Pakistan announced it was considering forming a “National Crypto Council” to legalize crypto. Interestingly, the announcement came after Pakistani Finance Minister Muhammad Aurangzeb met a foreign delegation, including Trump’s advisers, to discuss digital asset regulations.

The Pakistan Crypto Council was formed in March 2024, with the Finance Minister as Chairman and Bilal bin Saqib as CEO.

Acknowledging the US President’s role, Saqib said that Donald Trump is

“the biggest bullish catalyst for crypto in history.” He further noted, “Trump is making crypto a national priority, and every country, including Pakistan, will…