Pakistan establishes a cryptocurrency committee to regulate blockchain and digital assets

ChainCatcher news, according to Cryptoslate, the Pakistani government has established the Pakistan Cryptocurrency Committee (PCC) to oversee the integration and use of blockchain technology and digital assets in the country's financial sector. The PCC's agenda includes developing clear regulatory guidelines for cryptocurrency adoption, collaborating with international cryptocurrency and blockchain organizations, and promoting responsible innovation. The committee will also focus on consumer protection and financial security through a robust legal and compliance framework.

Finance Minister Muhammad Aurangzeb will serve as the chairman of the committee, leading a diverse group that includes senior officials from major financial and regulatory institutions. The leadership comprises the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Federal Minister for Law and Information Technology, aiming to ensure a comprehensive approach to regulatory oversight, financial stability, and technological advancement.

Pakistan is currently one of the countries with the highest cryptocurrency adoption rates, with an estimated 20 million active cryptocurrency users and a trading volume exceeding $20 billion.