Pakistan Forms Crypto Council, Hires Binance Founder for Regulatory Framework

Pakistan is undergoing a significant regulatory shift towards cryptocurrencies, appointing Changpeng Zhao, founder of Binance, as a strategic advisor to the newly formed Pakistan Crypto Council (PCC). This move follows years of skepticism and an explicit anti-crypto stance, as the government aims to develop a compliance-focused framework in line with Financial Action Task Force (FATF) regulations. The PCC, established in March 2025, seeks to foster innovation, formulate policies, and enhance digital literacy while addressing challenges such as terrorism financing and money laundering. With millions of Pakistanis already engaging in crypto trading, the government recognizes the potential for blockchain technology to invigorate its economy, especially amidst a struggling stock market. Zhao's involvement is seen as a landmark moment, signaling Pakistan's openness to digital finance and innovation. The PCC plans to leverage the country's excess energy for Bitcoin mining and develop a competitive crypto ecosystem under Zhao's guidance.