Pakistan Focuses on Building Cryptocurrency Legal Framework to Attract Foreign Investors, With Up to 20 Million Domestic Crypto Users

BlockBeats News, March 20th. Chief Executive Officer of Pakistan's Cryptocurrency Board, Bilal bin Saqib, stated that Pakistan plans to regulate cryptocurrency to become a leader in blockchain finance and attract international investment.

Pakistan is planning to establish a legal framework for cryptocurrency to attract international investors to this Central Asian country. "Pakistan is no longer standing idly by; we want regulatory clarity; we need a business-friendly legal framework."

Earlier this month, Saqib was appointed as the Chief Advisor to the Pakistani Ministry of Finance on cryptocurrency management. Blockchain analytics company Chainalysis ranked Pakistan as the ninth in cryptocurrency adoption rate last year. Saqib claimed that Pakistan has up to 20 million cryptocurrency users.