progress<\/a> on the FATF front.<\/p>\nThe minister emphasised that regulatory dimensions would be thoroughly examined. \u201cIt took five years of sustained effort to exit the grey list,\u201d he said, adding, \u201cWe have no intention of re-entering that cycle.\u201d<\/p>\n<\/p>\n
In this context, he highlighted the establishment of the Pakistan Virtual Asset Regulatory Authority (PVARA), whose inaugural meeting is scheduled for next week, as a milestone towards a balanced regulatory framework.<\/p>\n
Senator Aurangzeb stressed that Pakistan must leverage international experience, drawing on models from Dubai, Singapore, and the EU, while ensuring that national interests remain paramount. He commended the support received from international experts and organisations in helping Pakistan fast-track its regulatory and policy frameworks.<\/p>\n
FM Aurangzeb emphasised the need to embrace blockchain to drive innovation, financial inclusion, and transparency, while urging a balanced regulatory approach as the nation\u2019s youth increasingly adopt digital assets.<\/p>\n
\u201cWe have to accelerate our journey in terms of adopting transformative technologies like blockchain and digital assets, assuring the government\u2019s full support,\u201d he remarked. He noted that 20-25 million Pakistanis, particularly young people, were already engaged in digital asset-related activities in one form or another. \u201cThis scale of participation cannot be ignored,\u201d he remarked, stressing the need for acknowledgement, education, and structured policy responses to harness this growing trend.<\/p>\n
Calling it an opportune time to move forward, he underscored the importance of ensuring that all developments remain within a regulatory framework.<\/p>\n
He highlighted that while Pakistan was making strides in achieving macroeconomic stability, the next imperative was to actively participate in shaping the new economy driven by blockchain, artificial intelligence, and Web 3.0 technologies.<\/p>\n
He underscored three key drivers for blockchain adoption in Pakistan: financial inclusion, transparency, and speed. By enabling faster, cheaper, and more efficient transactions, blockchain and allied technologies can provide critical solutions for banking, remittances, agriculture, IT, freelancing, and energy.<\/p>\n
He cited successful initiatives such as the development of e-KYC systems through blockchain, which reduce duplication of compliance processes in banking, as practical examples of progress.<\/p>\n
\u201cWe must harness their energy, channel it through education and regulation, and integrate it into a system that strengthens the economy while safeguarding national interests. This is not just about keeping pace with global change\u2014it is about ensuring Pakistan\u2019s rightful place in the new economy.\u201d<\/p>\n
He reaffirmed the government\u2019s commitment to providing an enabling environment for the private sector to lead economic growth. He emphasised that facilitating traders and investors was a top government priority. He noted that economic reforms were underway and the national economy was gradually moving toward stability.<\/p>\n
The minister said the country must embrace this shift as part of its new economy by fostering financial inclusion, transparency, and efficiency, while ensuring a balanced regulatory framework through collaboration between government, academia, and the private sector.<\/p>\n
Reflecting on the broader vision of the government, the minister reiterated the government\u2019s commitment to fostering an enabling environment while allowing the private sector to lead innovation, with academia providing knowledge and talent.<\/p>\n
\u201cThis trilateral partnership of government, academia, and private sector is essential to scaling up our journey into the new economy,\u201d he stated.<\/p>\n
Published in Dawn, August 24th, 2025<\/p>\n","protected":false},"excerpt":{"rendered":"\u2022 Warns ignoring crypto regulations can expose Pakistan to sanctions, other risks\u2022 Says financial inclusion, transparency, speed key…\n","protected":false},"author":2,"featured_media":106112,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-106111","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/106111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=106111"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/106111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/106112"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=106111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=106111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=106111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}