Pakistan Moves to Establish Regulatory Framework for Digital Assets
Pakistan is taking concrete steps toward establishing a regulatory framework for digital assets, with officials confirming that work is underway to create legally defined parameters for cryptocurrencies, tokenised assets, and related financial instruments operating in the country.
The move follows growing pressure from the financial sector and international investors for regulatory clarity, with Pakistan's informal cryptocurrency market having expanded significantly in recent years despite operating in a legal grey zone. A formal framework would enable regulated exchanges, investor protections, and integration with the formal financial system.
Regulators are said to be studying frameworks adopted in jurisdictions including the UAE and Singapore, which have managed to attract digital asset investment while maintaining systemic financial safeguards. The State Bank of Pakistan and the Securities and Exchange Commission are expected to be among the key institutional stakeholders in shaping the final framework.
The initiative could have significant implications for Pakistan's foreign exchange position and its attractiveness as a destination for fintech investment, particularly as the country seeks to expand its digital economy and generate new sources of export revenue from technology services.
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