Pakistan Moves to Legalize Crypto to Attract Foreign Investment

Pakistan plans to develop a regulatory framework for cryptocurrency trading to attract foreign investment. Bilal bin Saqib, CEO of the Pakistan Crypto Council, stated in an interview with Bloomberg TV that the country seeks to establish a transparent regulatory framework for digital assets to strengthen the local ecosystem.

Pakistan Accepts Crypto

The executive believes the latest decision is a turning point for the country. He noted that Pakistan is now ready to embrace digital assets and attract international investors. With 60% of the country’s population under 30, he sees Pakistan as a fast-growing, low-cost market perfect for Web3 development.

The recent development followed last month’s meeting between United States officials and Pakistan’s Finance Minister, Muhammad Aurangzeb, where they discussed establishing a Bitcoin Strategic Reserve and forming a crypto council.

The recent appointment of Saqib as the prime minister’s advisor on digital assets also played a significant role in the country’s decision. His role involves developing blockchain policies and exploring artificial intelligence to enhance government operations. He stressed that with global leaders like Donald Trump prioritizing crypto, Pakistan must follow suit to remain competitive.

Even before legalization, Pakistan was a major player in crypto adoption. According to a Chainalysis report, the country ranked ninth globally in crypto usage, with an estimated 15 to 20 million people actively participating. With regulations now in place, Pakistan’s crypto market is poised for even more significant expansion.

The initiative is gaining strong momentum with full support from the Finance Ministry, State Bank, and IT leaders. As a result, major crypto exchanges, venture capital firms, and fintech startups are expected to enter the market soon. Meanwhile, retail investors awaiting regulatory clarity can now participate confidently without the risk of crackdowns.

Also, with clear regulations, Pakistan can potentially become a major blockchain hub, rivaling crypto-friendly regions. A well-regulated market ensures safety and stability, making investment easier for businesses and individuals. As new projects, tokens, and opportunities emerge in the coming months, early adopters stand to gain the most.

Morocco Legalizes Crypto

Over the past year, several countries have moved to legalize crypto. For instance, Morocco took steps in drafting legislation to regulate crypto assets. While crypto assets have been officially banned since 2017, Moroccan citizens have engaged with them through unofficial channels. At the time, reports suggest the country ranks among the top 20 globally for Bitcoin usage.