Binance Founder Changpeng Zhao Joins Pakistan’s Crypto Council: A New Era for Digital Finance?
Islamabad, Pakistan – April 10, 2025
In a significant development for Pakistan’s digital finance landscape, Changpeng Zhao, the founder of Binance—one of the largest cryptocurrency exchanges worldwide—has been appointed as a strategic adviser for the newly established Pakistan Crypto Council (PCC). This appointment signals a potential shift in the nation’s approach to cryptocurrency as it aims to integrate and regulate digital currencies within its financial framework.
A Turning Point for Pakistan’s Crypto Ambitions
After years of hesitance regarding cryptocurrencies, the Pakistani government has made a bold statement by bringing Zhao on board. Prime Minister Shehbaz Sharif’s administration officially launched the PCC in March 2025, marking a new chapter in the country’s digital finance policies. Finance Minister Muhammad Aurangzeb heralded Zhao’s involvement as a “landmark moment,” asserting, “We are sending a clear message to the world: Pakistan is open for innovation.”
Zhao’s role will focus on establishing a competitive crypto ecosystem in Pakistan, with emphasis on creating regulations, developing infrastructure, and fostering education around cryptocurrencies. The appointment is viewed as a proactive measure during a time of economic volatility worldwide.
Crypto Landscape in Pakistan
The embrace of cryptocurrencies in Pakistan comes as interest in digital currencies rises. According to Bilal bin Saqib, chief adviser to the Finance Minister, there are currently between 15 to 20 million crypto users in the country. The potential for economic growth in this sector is considerable, given that Pakistan is home to a young population—around 60% of its 240 million citizens are under 30 years old. Saqib noted that Pakistan is aiming to create a clear regulatory framework to attract investments and enable the crypto ecosystem to thrive.
Influences at Play
Pakistan’s shift toward a more favorable crypto stance is reportedly influenced by broader trends in global finance, including policy changes in the United States under former President Donald Trump. Initially critical of cryptocurrencies, Trump has shifted his perspective and pushed for regulatory frameworks that favor crypto’s inclusion in economic planning. Observers argue that as countries like the U.S. recalibrate their views on digital currencies, Pakistan must also adapt to maintain its competitiveness.
The Need for Regulation
While the PCC’s establishment is a positive step, experts have mixed feelings about the implications of increased regulation. Some industry insiders posit that regulation could stifle the very innovation that cryptocurrencies represent, as users may be deterred by the need to disclose their financial sources and comply with taxation laws. Ali Farid Khwaja, chairman of KTrade Securities, emphasized the need for regulations that protect investors and bring transparency without driving users to unregulated platforms.
Yet, the concern remains that regulatory measures might not effectively address how cryptocurrencies operate, given their decentralized nature. Ibrahim Khalil, a banking and finance professional, argues that Pakistan risks following trends without defining the real problems cryptocurrencies are intended to solve.
Infrastructure Challenges
Beyond regulation, Pakistan faces significant infrastructure challenges that could hinder the widespread adoption of cryptocurrencies. Currently ranked poorly in mobile and broadband internet speed, the lack of robust digital infrastructure poses limitations for crypto transactions. Furthermore, ongoing electricity shortages and high energy costs complicate the scenario for cryptocurrency mining—an activity that demands substantial power resources.
Khwaja noted the missed opportunities for Pakistan in the mining sector, suggesting that other countries, like the United Arab Emirates, are leveraging nuclear energy for more efficient mining operations. Khalil echoed this sentiment, referencing El Salvador’s struggles despite legalizing Bitcoin as tender, spotlighting the importance of underlying infrastructure.
A Path Forward
As Pakistan embarks on this regulatory journey with the PCC’s formation and Zhao’s appointment, the outcome remains uncertain. Balancing the need for regulation while embracing the decentralized promise of cryptocurrencies will be crucial in determining the success of this new endeavor. The government’s next steps will be closely watched, as they will shape not only the future of crypto in Pakistan but also its position in the global financial ecosystem.
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