Bilal Bin Saqib, executive director of the Pakistan Cryptocurrency Council, has suggested using the country's excess energy for Bitcoin mining during the council's first meeting, held on March 21.
As reported by The Nation, the council is drafting comprehensive regulatory frameworks for cryptocurrencies in order to attract foreign investment and position Pakistan as a cryptocurrency hub.
Attendees included lawmakers, the governor of the Bank of Pakistan, the chairman of the Securities and Exchange Commission of Pakistan (SECP) and the federal IT secretary.
The council's approach represents a significant shift from Pakistan's previous stance on cryptocurrencies.