Pakistan Launches Digital Asset Authority to Regulate Crypto, Targeting $25B Market

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Pakistan’s Crypto Adventure: Are We Ready for Digital Rupees? 💸🚀

Hold onto your wallets, folks! Pakistan is officially diving headfirst into the digital finance pool, and guess what? They just launched the Pakistan Digital Assets Authority (PDAA). Yes, that’s right! A whole new body to manage Bitcoin and other digital assets. Because who doesn’t want more bureaucrats in their crypto life? 🙄

This bold move comes as Pakistan’s unofficial crypto market is estimated to be worth around $25 billion. That’s billion with a “B,” which is a lot of zeroes! 💰

Pakistan Launches PDAA To Regulate Digital Assets

On Wednesday, the Ministry of Finance announced the PDAA, a shiny new organization dedicated to regulating everything from Bitcoin to those weird tokens you bought on a whim. This includes stablecoins, wallets, and even decentralized finance (DeFi) tools. Because why not throw in a little chaos with your regulations? 🎢

According to the Ministry, the PDAA aims to create a secure, investor-friendly environment. Translation: “We want your money, but we promise to keep it safe!” They’re also hoping to attract global blockchain firms. Because nothing says “come invest in our country” like a new regulatory body! 😅

Finance Minister Muhammad Aurangzeb chimed in, saying the PDAA is not just about regulation. It’s about creating a strong, forward-thinking system that invites foreign investment, protects users, and encourages Web3 innovation. So basically, they want to be the cool kids on the blockchain block. 😎

What Will the PDAA Do?

Here are some key responsibilities the PDAA will take on, because who doesn’t love a good list?

  • Oversee Pakistan’s massive $25B crypto market (that’s a lot of Bitcoin, folks!)
  • Promote Bitcoin mining using extra, unused energy (because why waste it?)
  • Allow the tokenization of government-owned assets and public debt (sounds fancy, right?)
  • Provide legal ways for investors, both inside and outside Pakistan (because we’re all about that legality!)
  • Help grow Web3 startups and digital exports (let’s make some digital magic happen!)

Global Crypto Partnerships Underway

In a move that’s sure to raise eyebrows, Pakistan recently struck a deal with World Liberty Financial (WLF), a crypto company backed by the Trump family. Yes, you heard that right! The deal was made through the Pakistan Crypto Council, which also roped in Binance founder CZ as an adviser. Because nothing says “serious player” like a family connection to reality TV! 📺

These partnerships hint at Pakistan’s grand plan to become a heavyweight in the global crypto arena. Watch out, world! 🥊

New Financial Identity for Pakistan?

With this new framework, Pakistan is joining the ranks of countries like Singapore, Japan, and the UAE, which have already made space for blockchain innovation. The PDAA will operate under FATF-compliant rules to ensure international trust. Because who doesn’t want to be trusted? 🙏

Experts believe this could be the beginning of a major shift. As Bilal Bin Saqib from the Pakistan Crypto Council said, “This isn’t just about crypto, it’s about reshaping the future of finance in Pakistan.” So, if all goes as planned, Pakistan could soon be South Asia’s next big crypto destination. Buckle up, it’s going to be a wild ride! 🎢💥

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2025-05-22 01:15