Pakistan to Set Up Cryptocurrency Supervision Authority

Pakistan is creating a new government agency, the Pakistan Digital Assets Authority (PDAA), to oversee blockchain technology and cryptocurrencies, Finance Minister Muhammad Aurangzeb said.

The decision was taken to streamline the digital asset market and position Pakistan at the forefront of financial innovation. The new authority will be responsible for monitoring the activities of crypto exchanges, custody services, digital wallets, as well as platforms for asset tokenization, stablecoins, and DeFi protocols.

The PDAA will ensure that these platforms comply with local laws to protect the interests of users and prevent illegal transactions. According to Aurangzeb, the goal of creating the PDAA is not only to bring the regulation to global standards but also to become a leader in the crypto economy. He emphasized that this will help attract international investment, protect consumers, and create a legal framework for the growth of the digital economy.

In addition to overseeing the circulation of crypto assets, the PDAA will deal with the tokenization of national assets and public debt. It is also planned that the agency will support local startups that develop solutions based on blockchain technologies and will promote the use of excess electricity by Bitcoin miners. In the spring of 2025, negotiations were already underway between the government and representatives of the Pakistan Cryptocurrency Council (PCC), including its executive director Bilal Bin Saqib, on the possibility of cooperation with international mining companies.