Bilal Bin Saqib Breaks Major News on Crypto in Pakistan | SAMAA TV

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Bilal Bin Saqib Breaks Major News on Crypto in Pakistan | SAMAA TV
Crypto policy based on regulation, not control: Bilal bin Saqib

Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib said on Sunday the government was not seeking to control crypto but to regulate it.

Addressing a press conference in Islamabad, Bilal bin Saqib said Pakistan ranked among the world’s first three crypto-adopting countries. He said 30 to 40 million Pakistanis used digital assets, adding that potential had no value without a legal and organised pathway.

He said the new framework had immediately curtailed money laundering and the financing of terrorismm, adding that, for the first time in history, a regulated, transparent and international-standard route had been opened for global exchanges.

Bilal bin Saqib said terrorist financing and anti-money laundering risks had been brought under control, and that licences would be issued only to institutions complying with Pakistani law and the regulated framework.

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