Pakistan is working on establishing a legal framework for cryptocurrencies to attract global investors to the country.
On March 20, Bilal Bin Saqib, CEO of the Pakistan Crypto Council, told Bloomberg:
"Pakistan is done sitting on the sidelines; we want to have regulatory clarity; we need to have a legal framework that is pro-business. We want Pakistan as the leader in blockchain-powered finance, and we want to attract international investment. Sixty percent of the population is under 30 [years old], we have a Web3-native workforce ready to build."
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Saqib was recently appointed chief advisor to Pakistan's finance minister for cryptocurrency management.
According to blockchain analytics firm Chainalysis, Pakistan ranked ninth in cryptocurrency adoption last year, and Saqib said there are up to 20 million Pakistani crypto users.
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