Pakistan releases signals to strengthen cryptocurrency regulation after talks with Binance

Pakistan has stated that it will advance its digital asset regulatory plan after talks with a delegation from the cryptocurrency exchange Binance.

The meeting was attended by Prime Minister Shehbaz Sharif and Chief of Army Staff Marshal Syed Asim Munir, with Binance CEO Richard Teng leading the delegation. Bilal Bin Saqib, chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), introduced the country's regulatory plans to the Binance delegation. The Prime Minister's Office stated that Pakistan aims to establish a "transparent and secure" digital asset framework that protects investors while supporting innovation.

This meeting is part of a broader initiative by Pakistan to formalize cryptocurrency regulation this year, which includes the establishment of a dedicated digital asset regulatory body and clear rules for exchanges. Saqib also mentioned that Pakistan is developing a sovereign stablecoin and exploring central bank digital currency (CBDC). According to Chainalysis data, Pakistan ranks among the top countries globally in cryptocurrency adoption rates.