Bilal Bin Saqib, the CEO of Pakistan’s Crypto Council, has suggested harnessing the country’s runoff energy to power Bitcoin mining during a recent meeting in March. The council is working on regulatory frameworks for cryptocurrencies to attract foreign investment and position Pakistan as a leading crypto hub. Notable attendees included lawmakers and representatives from the Bank of Pakistan. Senator Muhammad Aurangzeb emphasized the importance of creating a modern financial ecosystem to benefit youth and promote investment. This marks a shift from Pakistan’s previous anti-crypto stance, as the government now aims to embrace digital currencies and their potential for economic growth.
Bilal Bin Saqib, the CEO of Pakistan’s Crypto Council, is taking significant steps to elevate the country’s position in the global cryptocurrency Market. During the council’s first meeting on March 21, 2025, he suggested harnessing Pakistan’s runoff energy for Bitcoin mining, an idea that could transform the sector locally.
The council aims to establish clear regulatory frameworks that can attract foreign investment, making Pakistan a potential crypto hub. Notable figures present at the inaugural meeting included lawmakers, the Bank of Pakistan’s governor, and the head of the Securities and Exchange Commission (SECP). Senator Muhammad Aurangzeb remarked, “This is the beginning of a new digital chapter for our economy,” highlighting the commitment to creating a transparent financial ecosystem.
This move marks a shift from previous government stances. Just last year, former finance minister Aisha Ghaus Pasha claimed that cryptocurrencies would never be legalized in the country due to concerns over money laundering and compliance with the Financial Action Task Force (FATF).
In contrast to past resistance, the Crypto Council’s push towards a more open approach indicates a substantial change in policy. With the right regulatory support, Pakistan may follow in the footsteps of other nations embracing digital currencies, aiming to compete on the global stage.
In a world increasingly leaning towards digital assets, it’s crucial for countries like Pakistan to adapt and innovate. The future of cryptocurrency in Pakistan looks promising as the government makes strides towards legal recognition and investment opportunities.
Tags: Pakistan, Cryptocurrency, Bitcoin, Digital Assets, Regulatory Framework
What is the Pakistan Crypto Council’s proposal for Bitcoin mining?
The Pakistan Crypto Council wants to use extra energy from power plants to mine Bitcoin. This could help the country use its resources better and create jobs.
How does using excess energy for Bitcoin mining work?
Excess energy means the electricity that is produced but not being used. Instead of wasting this power, it can be used to run computers that mine Bitcoin, making good use of available resources.
Why is Bitcoin mining important for Pakistan?
Bitcoin mining can bring in money for Pakistan by generating revenue through cryptocurrency. It increases technological development and could help in job creation in the tech sector.
Are there any environmental concerns with Bitcoin mining?
Yes, there are concerns that Bitcoin mining uses a lot of energy. The Pakistan Crypto Council aims to address this by using clean energy sources, which can reduce the environmental impact.
How will this proposal benefit the economy?
Using excess energy for Bitcoin mining can boost the economy by attracting investments, creating jobs, and promoting the use of technology. It may also help Pakistan become a player in the global cryptocurrency Market.