Govt taps HK expertise for virtual assets

ISLAMABAD:

Pakistan is exploring emerging opportunities in the virtual assets and digital finance ecosystem, including the potential application of blockchain and tokenisation technologies in financial markets, following constructive engagement between the Pakistan Virtual Assets Regulatory Authority (PVARA) and Hong Kong policymakers, according to a statement issued on Tuesday.

PVARA Chairman Bilal Bin Saqib briefed Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on his recent visit to Hong Kong, where he held discussions with the Financial Services and the Treasury Bureau, Hong Kong Monetary Authority, and Securities and Futures Commission. The meetings covered international practices relating to digital assets, stablecoins, compliance frameworks and digital financial infrastructure. Saqib shared perspectives on digital financial products, tokenisation and potential areas for institutional cooperation.

Aurangzeb emphasised the importance of developing a responsible, transparent and well-structured digital assets ecosystem that supports innovation while maintaining appropriate safeguards. The finance minister appreciated efforts to engage with international policymakers and stressed the importance of building on these engagements to identify practical use cases that can contribute to the development of Pakistan's digital financial ecosystem.