ISLAMABAD, May 29, 2025: While Pakistan celebrates the establishment of a national Bitcoin wallet, the government officially continues the ban on the digital currency until proper regulations are put in place.
Earlier today Pakistan Crypto Council CEO and Special Assistant to Prime Minister on Cryptocurrency Bilal Bin Saqib unveiled the Pakistan’s first state-led Strategic Bitcoin Reserve. He announced it as digital assets already in state custody — not for sale or speculation, but as a sovereign reserve signaling long-term belief in decentralized finance.
READ MORE: Pakistan Announces Strategic Bitcoin Reserve
However, hours later Finance Secretary has reiterated that the ban on cryptocurrency remains firmly in place until proper regulations are made and implemented to manage digital assets. The secretary’s statement came during a meeting of the National Assembly’s Standing Committee on Finance held here today.
His statement came in response to the query raised by another parliamentarian over possible money laundering through cryptocurrency, and the government’s plans to tackle it. A bill calling for formal regulations for digital currencies was also tabled in this regard.
The concerns emerge from the fact that Pakistan has only recently exited the Financial Action Task Force’s (FATF) grey list. The finance secretary, admitting the concerns, said that the government is already in the process of establishing such regulations, and work is also underway within the Crypto Council. He, however, said that a full regulatory framework still needs to be formulated, reiterating that the State Bank of Pakistan’s (SBP) ban on investments in cryptocurrency is still intact.
READ MORE: US Bitcoin Reserve: Protection for Its Digital Assets
SBP officials, also in attendance, briefed the standing committee on the formation of a National Working Group focused on digital currency. They also said that some initial recommendations have already been shared with the Crypto Council.
