Pakistan has formally entered the global cryptocurrency landscape with the groundbreaking creation of its first Bitcoin Strategic Reserve. This decisive move validates the 2018 predictions of Minister of State for Crypto and Blockchain, Bilal bin Saqib, and marks the country’s strategic pivot towards embracing digital assets. The initiative is widely viewed by economic experts as a potential game-changer that could significantly reshape Pakistan’s economic trajectory in the coming years.
A cornerstone of this new national strategy is the establishment of the Pakistan Virtual Assets Regulatory Authority (VARAP). This independent body is designed to provide a regulatory framework for the digital finance sector, ensuring security, transparency, and growth. Its creation is considered a vital step towards building investor confidence and fostering a legitimate ecosystem for virtual assets within the country.
Minister Bilal bin Saqib, recognized as the driving force behind Pakistan’s foray into crypto diplomacy, described the nation as “a hidden treasure whose true strength will unfold in the future.” He emphasized that this strategic shift has elevated Pakistan’s international standing, moving it from being perceived as a mere receiver of aid to being recognized as an innovative builder on the global stage.
According to international reports, including those from the Financial Times, Pakistan’s comprehensive crypto strategy is rapidly gaining momentum and recognition worldwide. The development of the Bitcoin Reserve and a clear regulatory framework positions Pakistan as an emerging player in the multi-trillion dollar digital economy, closely watched by global investors and policymakers.
