ISLAMABAD: Bilal Bin Saqib, Special Assistant to the Prime Minister on Crypto and Blockchain, has clarified that the government is not purchasing Bitcoin with funds, but instead plans to utilize the bitcoins that have been seized within Pakistan.
Speaking on Geo News’ program Naya Pakistan, Bilal Bin Saqib said that Pakistan is not investing in Bitcoin but is offering electricity to international companies looking to invest in the country’s crypto mining sector. He emphasized that not regulating cryptocurrency poses a risk, even though crypto itself is transparent and traceable.
He further shared that a national crypto council has been formed to shape regulatory direction. Globally, the use of crypto in illicit activities is only 0.024%, compared to 2–4% for cash, making cryptocurrency less prone to misuse for money laundering.
Bilal Bin Saqib also highlighted a lack of awareness about crypto in Pakistan, noting a gap between policymakers and tech-savvy youth. He stated that countries adopting crypto are witnessing economic benefits and overall better financial conditions than Pakistan, urging the need to embrace this emerging technology.