Breaking News
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Apr 08 2025
1Introduction
In a landmark development reflecting Pakistan's burgeoning interest in digital financial technologies, the government of Pakistan has officially appointed Changpeng Zhao — widely known as CZ — the founder of the global cryptocurrency exchange Binance, as Strategic Advisor to its newly established Pakistan Crypto Council (PCC). This significant announcement was made during Zhao’s visit to Islamabad, where he engaged with the country's top leadership and financial regulatory authorities.
Engagement with Pakistan’s Leadership
During his visit to the capital, CZ met with several eminent government figures, including the Prime Minister of Pakistan, the Finance Minister Senator Muhammad Aurangzeb, and senior officials from the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan. The consultations were geared towards exploring pathways for the development of a comprehensive digital assets framework within the country.
CZ expressed his optimism regarding Pakistan’s digital future, noting, “Pakistan is a country of 240 million people, over 60% of whom are under 30. The potential here is limitless.” His statement encapsulates the vision that Pakistan’s young demographic holds immense potential for driving crypto adoption and digital innovation.
The Role and Objectives of the Pakistan Crypto Council (PCC)
The PCC, operating under the jurisdiction of the Finance Division, has been entrusted with the mandate of formulating a regulatory, infrastructural, and educational ecosystem for digital assets in Pakistan. The Council aims to balance innovation with regulatory oversight, thereby ensuring that Pakistan remains competitive in the rapidly evolving world of blockchain and cryptocurrency.
CZ’s advisory role encompasses a wide range of responsibilities, including providing strategic guidance on regulatory policy, infrastructure development, adoption of blockchain technology, and nurturing local talent in the field of digital finance.
Pakistan’s Strategic Position in Global Crypto Developments
This move aligns with CZ’s broader engagements on the global stage. Merely a week prior to his visit to Pakistan, Zhao had signed a Memorandum of Understanding with the National Investment Agency of Kyrgyzstan. This agreement committed both parties to collaborate in building the Central Asian nation’s blockchain and cryptocurrency infrastructure, including provisions for infrastructure development, capacity-building, and advisory services.
Such international engagements underscore CZ’s emerging role as a key figure in advising nations on crypto strategy, reflecting a growing trend of governments seeking expertise from private sector leaders to navigate the complex digital finance landscape.
Government Reaction and Vision for the Future
Senator Muhammad Aurangzeb, Pakistan's Finance Minister, hailed the appointment as a “landmark moment,” signaling Pakistan's willingness to embrace innovative financial technologies and position itself as a competitive player in the regional digital economy. He noted that this development highlights Pakistan’s openness to engaging with global experts to craft its digital financial future.
Furthermore, Bilal Bin Saqib, Chief Executive Officer of the PCC, lauded the collaboration with CZ, remarking that his strategic leadership would greatly assist Pakistan in emerging as a regional powerhouse in blockchain technology and digital finance.
Conclusion
Pakistan’s decision to appoint Changpeng Zhao as a Strategic Advisor marks a pivotal chapter in the country’s journey towards financial innovation and digital transformation. This partnership reflects an alignment of visionary leadership, regulatory foresight, and global expertise, setting the stage for Pakistan to harness the vast opportunities within the blockchain and cryptocurrency domain.
This is non-financial/medical advice and made using AI so might be wrong.
Source: https://crypto.news/pakistan-taps-binance-founder-cz-as-advisor-to-national-crypto-council/
