The Pakistan Crypto Council (PCC) will hold an important meeting on June 2 to consider regulations and legal framework related to the broader scenario for digital and crypto currencies in Pakistan, according to an announcement from the Finance Ministry on Friday.
Federal Finance Minister Muhammad Aurangzeb will chair the meeting, to be attended by PCC chief Bilal Bin Saqib, the State Bank of Pakistan (SBP) governor, Securities and Exchange Commission of Pakistan (SECP) chairman, and the secretaries of law and information technology ministries.
According to the Finance Ministry, the key agenda items of the meeting include the development of a robust regulatory framework for digital and virtual assets in Pakistan, which will be in line with global standards and technological developments.
It said that the meeting has been convened as a strategic forum to consider the regulations and legal framework related to crypto in Pakistan. "A key topic of discussion will be the preliminary preparation for the establishment of the 'Pakistan Virtual Assets Regulatory Authority'.
The proposed authority will be an autonomous body, which will oversee the digital finance and crypto ecosystem in the country. "This meeting reflects the government's commitment to creating a financial architecture so that stability and regulation in the emerging digital economy are also ensured," it said.
According to the Finance Ministry, the council aims to lay the foundation for a safe, transparent and regulatory environment, with a view to a responsible adoption of blockchain technology, and promotion of investor protection and financial inclusion.
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