Pakistan Names Bilal bin Saqib as Chief Advisor for Expansion of Cryptocurrency Reporting

Pakistan has made a notable advancement in establishing cryptocurrency regulations by appointing Bilal bin Saqib as the Chief Advisor to the Finance Minister for the Pakistan Crypto Council.

This appointment reflects the federal government’s initiative to integrate blockchain and digital assets into its financial system while ensuring a secure and transparent regulatory environment, as announced by the Finance Division on Wednesday.

Forbes-Recognized Web3 Investor Saqib Joins as Blockchain Strategist

Saqib, a Web3 investor and blockchain strategist acknowledged by Forbes, brings extensive experience to this role.

He is also the recipient of the 1632nd Points of Light Award, an accolade given by the British Prime Minister to honor significant change-makers.

Additionally, he received an MBE (Member of the British Empire) in 2023 for his contributions to the UK’s National Health Service (NHS).

As Pakistan considers cryptocurrency regulations, Saqib’s role will focus on developing policies that meet international standards while addressing potential risks associated with digital assets.

The Finance Division highlighted that Saqib’s expertise will be crucial in shaping Pakistan’s approach to cryptocurrency and blockchain integration.

His responsibilities include advising on the creation of a robust legal framework to ensure regulatory clarity and security.

“Saqib will contribute his extensive knowledge and experience to Pakistan’s initiatives to incorporate cryptocurrency and blockchain technologies into its financial ecosystem while ensuring the establishment of a strong regulatory framework for digital assets in line with global best practices,” stated the Finance Division.

Furthermore, his role will extend beyond cryptocurrency, as he is tasked with investigating how artificial intelligence (AI) can enhance government efficiency, improve decision-making, and promote innovation in public administration.

#PAKWatch: Pakistan is considering forming a “National Crypto Council” to explore the legalization of digital currencies.
Just what Pakistan DOESN’T need.
CRYPTO = HIGHLY SPECULATIVE ASSET = CRIMINAL’S CURRENCY OF CHOICE. pic.twitter.com/a5OhEshj4U

— Steve Hanke (@steve_hanke) March 2, 2025

Finance Minister Muhammad Aurangzeb welcomed Saqib’s appointment, underscoring the government’s commitment to technological advancement while ensuring financial security.

“Saqib’s appointment highlights our commitment to adopting emerging technologies while maintaining a secure and transparent financial system. We are confident that his leadership will steer the development of a sound and effective regulatory framework, promoting innovation and sustainable growth in Pakistan’s crypto sector,” Aurangzeb stated.

Pakistan Aims to Regulate Crypto with New Advisory Council

Last week, Pakistan’s finance ministry announced intentions to explore the establishment of a National Crypto Council.

According to reports, Finance Minister Muhammad Aurangzeb met with an international delegation, including Gentry Beach Jr., a business associate who recently pledged $1 billion in investments to Pakistan.

The delegation also featured tech entrepreneur Nikita Goldsmith, blockchain consultant Alex Malkov, and Cosmic Wire CEO Jerad Finck.

Until last year, Pakistan’s government and central bank were firmly against cryptocurrency regulation.

Previous finance ministers had dismissed the idea of legalizing digital assets, and the State Bank of Pakistan had cautioned against their use.

However, Aurangzeb has now indicated a change in stance, advocating for an “open-minded” approach to assessing the sector.

The proposed National Crypto Council would serve as an advisory body consisting of government representatives, regulatory authorities, and industry experts, according to the finance ministry.

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