Al -Jazeera Net Correspondents
The CEO of the Pakistani encrypted currency council and the adviser to the Prime Minister of Cross Curricula, Bilal bin Thaqab, announced the first strategic reserves of Bitcoin led by government leadership in the country.
Bin Thaqab announced the establishment of a national bitcoin portfolio to preserve the digital assets already in the custody of the state, not for sale or speculation, but as a sovereign reserve indicating a long -term faith in decentralized financing, according to his statements.
His remarks came – yesterday, Thursday, at the Bitcoin Vegas 2025 conference in Las Vegas after he gave a speech to a group of attendees, which included US Vice President Jd Vice, Eric Trump and Donald Trump Jr..
The head of the encrypted currency council said that Pakistan has 30 to 40 million digital currency portfolio, and also pointed to Pakistan’s unique position that has an average age of 23 years, and has the largest gathering of independent workers, which makes it an important competitor in this field.
During his speech, Bin Thaqab announced the first phase of a government -backed infrastructure project, which is allocated 2000 megawatts of electricity surplus for bitcoin mining and artificial intelligence data centers.
He also revealed the upcoming establishment of the Pakistani Digital Assets Authority (PDAA), a new organizational body aimed at protecting investors, empowering developers, and building a safe working framework for digital financing in the country.
Today, 🇵🇰 Rewrites History.
AT bitcoin 2025 vegas, minister of Crypto and Blockchain @Bilalbinsaqib Announces that Pakistan Will Be Setting Up Its Strategic Bitcoin Reserve. pic.twitter.com/1vnjryqimf
– Pakistan Crypto Council (@cryptocounckk) May 29, 2025
A careful step
Commenting on this announcement, Othman Zhuan, an economist and researcher at the Center for Space and Security Studies, said that this announcement represents a cautious but aspiring to digital assets, as the initiative includes allocating the power surplus to the Bitcoin Mining Data Centers and Artificial Intelligence, with the aim of attracting global investments while adhering to the regulations of the financial work group.
Zhhan – who has several books in the field of digital currencies – told Al -Jazeera Net that this step opens new horizons for Pakistani American cooperation in the field of financial technology and green technology, especially through joint projects and exchanging innovations.
The expert believes that this indicates the intention of Pakistan to explore emerging industries as a way to diversify its economic base.
Zhhan believes that the traditional economy must remain a priority, as the next budget will be a decisive test of the government’s financial focus and economic responsibility.
Irregular
On the other hand, the Undersecretary of the Pakistani Ministry of Finance, Emdad Allah Boussal, said that the ban on cryptocurrencies is still in effect throughout Pakistan, stressing the need to organize it, according to the newspaper “Don” the Apalar.
During the meeting of the Standing Committee for Financial Affairs in the Pakistani Parliament today, Friday, a member of the Pakistani People’s Party, Charmela Farouki, presented a draft law on digital currency regulations, as it said that there are no regulations for encrypted currencies and that if Pakistan is heading towards digital currencies, cryptocurrencies must be decentralized.
She asked how to protect encrypted currencies from money laundering operations, noting that Pakistan was recently removed from the gray list of the financial worker group, in which countries with complaints of money laundering and support for terrorism are included.
During the session, the Undersecretary of the Ministry of Finance indicated that the State Central Bank to invest in encrypted currencies, adding that “the preliminary work is taking place in the encrypted currency council, but there is a need for suitable regulations for encrypted currencies.”
The Pakistani cryptocurrency council was officially launched in March of this year in an attempt to attract foreign investments, organize and integrate Blockchain technology and digital assets, and to draw the country’s future in the field of digital assets.
Pakistan is ranked ninth in the world in terms of the adoption of cryptocurrencies, according to Cenalisis, and in an interview for Bilal Ben Thaqib with the American “Bloomberg” agency last March, he said that there are between 15 and 20 million users of encrypted currencies in Pakistan.
