Former Binance CEO Changpeng Zhao has been appointed as an advisor to the Crypto Council of Pakistan, a newly created regulatory body overseeing the adoption of blockchain technology and digital assets in the country.
This appointment, confirmed by Pakistan's Ministry of Finance, positions Zhao to guide the council on cryptocurrency regulation, infrastructure and adoption.
Zhao is a prominent figure in the crypto world, having led Binance from 2017 to 2023. He stepped down as CEO in November 2023 after pleading guilty to charges related to violating US money laundering laws, which earned him a four-month prison sentence.
Zhao's appointment is significant for Pakistan as it could attract foreign investment in the strategically important digital asset sector.