Pakistan’s Ministry of Finance shared on social media platform X on Dec. 5 that it hosted a consultative meeting on the National Digital Asset Framework with Finance Minister Senator Muhammad Aurangzeb, the Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib, and senior Binance executives, including CEO Richard Teng.

The Finance Ministry described:

The meeting focused on Pakistan’s next steps toward building a secure, transparent, and innovation-driven digital asset ecosystem.

Officials assessed on/off-ramp design, tighter AML/CFT controls, and broader integration of regulated financial institutions. The ministry added: “Minister Aurangzeb reaffirmed Pakistan’s commitment to a forward-looking regulatory environment that protects national interests while enabling technological progress.”

Binance leaders outlined international crypto developments, Pakistan’s expanding user participation, and blockchain’s ability to reduce costs across the nation’s $38 billion remittance flows. According to the ministry, Chairman Bilal Bin Saqib emphasized: “Pakistan’s unique opportunity to shape global digital finance norms and highlighted digital assets as core financial infrastructure capable of supporting inclusion, unlocking new banking opportunities, and driving national progress.” The dialogue also covered formalizing citizen-held virtual assets, expanding Web3 skills, and exploring sovereign debt tokenization to widen liquidity and investor access.

Read more: Pakistan Opens Doors to Regulated Exchanges as Critics Raise Red Flags Over Its Crypto Strategy

Participants reviewed taxation mechanics, phased capital gains schedules, oversight through licensed exchanges, and the potential use of a limited amnesty to transition users onto regulated platforms. The ministry stated:

Work is advancing on a structured licensing regime for Virtual Asset Service Providers, aimed at meeting global standards, ensuring user protection, and encouraging institutional participation.

Bank presidents discussed custody, risk frameworks, and technical collaboration to ready the sector for a supervised digital asset market intended to support economic expansion and innovation. Crypto advocates maintain that predictable regulation can deepen inclusion, attract capital, and enhance Pakistan’s competitiveness. Binance founder and former CEO Changpeng Zhao (CZ) commented on X: “Pakistan moving fast on crypto.”

• What is Pakistan planning in its National Digital Asset Framework?
  It is advancing regulations to build a secure, transparent digital asset ecosystem with institutional participation.
• How could Pakistan’s remittance sector benefit from digital assets?
  Blockchain-based systems may help reduce costs across the country’s $38 billion remittance flows.
• What role will licensed exchanges play in Pakistan’s crypto market?
  Oversight through licensed exchanges is being considered to manage taxation, compliance, and user protection.
• Why are officials discussing sovereign debt tokenization?
  Tokenization is being explored to expand liquidity and investor access to Pakistan’s sovereign debt.

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