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A pathway for everyone: Pakistan’s Bilal Bin Saqib states that cryptocurrency is essential, not an indulgence.
The regulation of digital assets presents a significant opportunity for emerging markets, stated the head of crypto regulation in Pakistan.
PVARA chairman Bilal Bin Saqib (Consensus)
Key points:
- Pakistan ranks as the third largest crypto market in terms of retail engagement, surpassing countries such as Germany and Japan.
- “We have over 100 million citizens without access to banking, lacking savings tools, investment options, or means to improve their economic status,” PVARA chairman Bilal Bin Saqib stated. “Thus, crypto and blockchain are essential for Pakistan. They serve as a pathway for the general population.”
- Regarding the proposed BTC reserve or national energy distribution, the head of Pakistan’s crypto regulations cautioned that acting swiftly without a framework could pose risks.
Pakistan did not suddenly embrace cryptocurrency, remarked the chairman of the nation’s Virtual Assets Regulatory Authority (PVARA).
The country found itself in the rare situation of hosting one of the largest cryptocurrency markets globally, yet lacking any regulatory framework, PVARA chairman Bilal Bin Saqib communicated during Consensus Hong Kong 2026 on Thursday.
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“In 2025, Pakistan recognized that around 40 million of its citizens were already engaging in digital asset trading without any regulations, protection, or benefits returning to the state,” Bin Saqib stated via virtual connection. “The market was present, but the regulatory framework was absent. Thus, we aimed to transition from an unregulated market to a regulated one.”
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Indeed, Pakistan holds the position of the third-largest cryptocurrency market based on retail activity, ahead of nations like Germany and Japan, Bin Saqib noted. This is attributed to Pakistan being not only an emerging economy but also a youthful country demographically, with approximately 70% of its 250 million population under the age of 30.
“We possess one of the most technologically adept youth demographics globally,” the PVARA chairman remarked. “With over 100 million unbanked individuals, lacking savings methods, investment avenues, or means to improve their economic standing, crypto and blockchain are crucial for Pakistan. They represent a means of advancement for the majority.”
Pakistan’s bitcoin strategic reserve and national mining initiatives
A point of focus for the crypto sector was Bin Saqib’s declaration last year at Bitcoin Las Vegas regarding Pakistan’s intention to create a strategic bitcoin BTC $68,087.00 reserve and foster bitcoin mining.
Bin Saqib emphasized that it was not merely “an announcement,” but also noted that “when managing something as critical as the Bitcoin reserve or national energy distribution, haste without an established framework can be perilous.”
Concerning the reserve, he stated: “The initial action involves identifying the digital assets owned by the state and transferring them into a formally state-controlled custody structure, which will ensure transparency, accountability, and adherence to standards. It’s not about speculation; it’s about managing digital assets as sovereign wealth,” Bin Saqib explained.
Regarding mining, he added: “We have pinpointed locations with surplus electricity and are currently evaluating the economics and impacts while simultaneously engaging with global miners and AI computing operators.”
The initiative seeks to adopt a “responsible partnership model,” Bin Saqib indicated, as this is not merely a standalone crypto experiment.
“It is part of a larger strategy focused on energy efficiency, computing capacity, and our national digital infrastructure. Bitcoin mining and AI data centers serve as two methods for converting unused energy into productive output for our nation.”
