Pakistan is making bold moves to position itself as a key player in the global Web3 and digital asset landscape with the appointment of Changpeng “CZ” Zhao, former CEO of Binance, as strategic adviser to the country’s newly established Crypto Council.
This landmark decision, announced in April 2025, underscores Pakistan’s ambition to build a modern, regulated, and globally competitive cryptocurrency ecosystem. As one of the world’s top 10 countries for crypto adoption, with an estimated 20 million active users, Pakistan is leveraging its young, tech-savvy population and growing digital economy to attract international investment and innovation.
The Role of the Pakistan Crypto Council
Established in March 2025 under the Finance Division, the Pakistan Crypto Council (PCC) is tasked with guiding the nation’s blockchain and digital asset strategy. Comprising high-ranking officials—including the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan, and federal secretaries for Law and IT—the council reflects a coordinated, government-wide commitment to technological advancement.
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The PCC aims to develop a clear regulatory framework for cryptocurrency trading, foster infrastructure development, promote financial literacy, and ensure compliance with international standards. With CZ Zhao on board, the council gains access to unparalleled industry expertise from the founder of the world’s largest cryptocurrency exchange.
Zhao will advise on critical areas including:
- Cryptocurrency regulation and compliance
- Blockchain infrastructure development
- Public and private sector education initiatives
- Strategies for mass adoption
His role is not just symbolic—it’s strategic. By working closely with both government leaders and private stakeholders, Zhao will help shape policies that balance innovation with investor protection and financial stability.
Why Pakistan Is Poised for Crypto Growth
Pakistan’s potential in the digital asset space is rooted in several key advantages:
- Demographics: With over 240 million people, more than 60% under the age of 30, Pakistan boasts one of the youngest populations in Asia—ideal for rapid tech adoption.
- Tech Talent: A growing pool of software developers, engineers, and blockchain enthusiasts positions the country as a low-cost, high-skill hub for Web3 development.
- Remittance Market: Pakistan receives around $35 billion annually in remittances. Blockchain technology can significantly reduce transfer costs and increase speed—making crypto an attractive alternative to traditional channels.
- Economic Incentives: Amid economic challenges and a push for foreign investment, crypto offers a pathway to financial inclusion and modernization.
According to a 2023 KuCoin survey, 33% of Pakistani crypto investors use digital assets to hedge against rupee depreciation. A more recent Bitget report found that 46% of South Asian users value crypto for its transactional speed and accessibility.
These insights reveal a population already embracing digital finance—not out of speculation alone, but out of necessity and practicality.
Government Backing and High-Level Engagement
The appointment of CZ Zhao has been hailed as a “landmark moment” by Finance Minister Senator Muhammad Aurangzeb, who chairs the PCC. “We are sending a clear message to the world: Pakistan is open for innovation,” he stated.
Zhao’s visit included high-level meetings with Prime Minister Shehbaz Sharif and Deputy Prime Minister Senator Ishaq Dar—demonstrating top-down support for blockchain integration into national economic planning.
“With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth,” said Aurangzeb.
Bilal bin Saqib, CEO of the Pakistan Crypto Council, emphasized that Pakistan is no longer waiting on the sidelines. “We want to attract international investment because Pakistan is a low-cost high-growth market with a Web3 native workforce ready to build,” he said.
This proactive stance comes at a pivotal time. After narrowly avoiding financial default in 2023, Pakistan is seeking new avenues for economic resilience. A regulated crypto market could unlock billions in foreign capital while modernizing payment systems and expanding financial access across rural and urban communities.
Regulatory Clarity on the Horizon
One of the biggest hurdles to institutional investment in crypto has been regulatory uncertainty. That may soon change.
The PCC plans to introduce comprehensive legislation covering:
- Licensing for crypto exchanges
- Anti-money laundering (AML) and know-your-customer (KYC) compliance
- Tax treatment of digital assets
- Consumer protection mechanisms
Such clarity would place Pakistan alongside progressive jurisdictions like Singapore, Dubai, and Switzerland—countries known for fostering innovation while maintaining oversight.
While the State Bank of Pakistan has previously issued warnings about crypto risks, the formation of the PCC signals a shift toward engagement rather than restriction. The goal is not just adoption, but responsible, sustainable growth.
FAQ: Understanding Pakistan’s Crypto Vision
Q: Why did Pakistan appoint CZ Zhao as an adviser?
A: CZ Zhao brings unmatched experience from building Binance into the world’s largest crypto exchange. His expertise in regulation, infrastructure, and global market dynamics makes him a strategic asset in shaping Pakistan’s digital future.
Q: Is cryptocurrency legal in Pakistan?
A: As of now, there is no outright ban, but crypto trading operates in a gray area. The government is actively working on formal regulations through the Pakistan Crypto Council to create a legal and secure environment for users and investors.
Q: How can blockchain benefit Pakistan’s economy?
A: Blockchain can revolutionize remittances, reduce fraud in public services, enhance supply chain transparency, and attract foreign tech investment—especially in fintech and decentralized applications.
Q: Will ordinary citizens be able to use crypto easily?
A: Yes. Part of the PCC’s mission includes public education and user-friendly platforms to ensure widespread, safe adoption across all levels of society.
Q: What are the risks involved in Pakistan’s crypto push?
A: Risks include market volatility, potential misuse for illicit activities, and technological challenges. However, with strong regulation and international collaboration, these can be mitigated effectively.
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A Strategic Move with Global Implications
Zhao’s appointment follows his resignation from Binance in November 2023 after pleading guilty to charges related to US anti-money laundering compliance failures. He served a four-month prison sentence and has since remained active in advocating for responsible innovation in the crypto space.
His involvement with Pakistan does not signal a return to operational leadership but rather a consultative role focused on nation-building through technology.
Pakistan’s move sends a powerful signal: emerging markets are no longer passive observers in the Web3 revolution—they are becoming architects.
By combining youthful energy, strategic leadership, and global partnerships, Pakistan aims to become a model for how developing nations can harness blockchain for inclusive growth.
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Final Thoughts
Pakistan’s recruitment of CZ Zhao is more than a publicity move—it’s a calculated step toward economic transformation. With strong government backing, a clear roadmap, and world-class advisory support, the country is laying the foundation for a resilient digital economy.
As regulatory frameworks take shape and adoption grows, Pakistan could soon emerge as South Asia’s leading hub for blockchain innovation—proving that with vision and execution, even nations facing economic headwinds can ride the wave of technological progress.
The journey has just begun, but the direction is clear: Pakistan is all in on crypto.