PDAA: Pakistan’s New Crypto Sheriff Rides Into Town—And Brings Bitcoin With Him!

In the bustling corridors of Islamabad, where the scent of bureaucracy mingles with the aroma of chai, a new authority has emerged—one that promises to wrangle the wild stallions of blockchain and digital assets. The lawmakers, perhaps after a hearty meal or a particularly stirring game of cricket, have nodded sagely and given birth to the Pakistan Digital Assets Authority (PDAA). One can only imagine the paperwork involved.

The Ministry of Finance, in a fit of modern enthusiasm, has blessed this creation, tasking it with the noble duty of licensing, compliance, and—dare we say—innovation. According to the ever-reliable PTV, this body will keep a watchful eye on crypto exchanges, digital wallets, tokenization services, stablecoins, and those mysterious DeFi protocols that even your cousin’s barber claims to understand. 🧐

Finance Minister Muhammad Aurangzeb, with the gravitas of a man who has seen too many PowerPoint slides, declared that Pakistan must not merely catch up but lead. One suspects he dreams of a future where every citizen owns at least one NFT of a goat. The PDAA, he assures us, will protect consumers, lure global investors (who are surely packing their bags already), and build a “future-ready framework”—which sounds suspiciously like something you’d find in an IKEA manual.

But wait! There’s more. The PDAA will also dabble in tokenizing national assets and government debt (because what could possibly go wrong?), facilitate Bitcoin mining using surplus electricity (finally, a use for all those flickering bulbs!), and encourage local startups to build blockchain solutions at scale. If only Nikolai Gogol had lived to see this day—he might have written “Dead Souls” on the blockchain.

Meanwhile, the Power Division is busy consulting stakeholders about electricity pricing for digital assets. No subsidies here—just pure, unadulterated market forces. Power Minister Awais Leghari has even chatted with Bilal Bin Saqib, CEO of the shiny new Pakistan Crypto Council (PCC), about how global crypto miners might feast upon Pakistan’s surplus electricity. One imagines miners arriving with pickaxes and extension cords.

Not so long ago, former minister Aisha Ghaus Pasha thundered that cryptocurrencies would never be legalized in Pakistan. Yet here we are: the PDAA is alive and well, and the State Bank’s icy stance has thawed faster than ice cream in a Lahore summer. Amendments to the SBP Act now allow for digital currency issuance—because why have just one kind of money when you can have two?

The Pakistan Crypto Council was born in March 2025 to advise on digital asset policy. Saqib declared that Pakistan is “done sitting on the sidelines,” eager to attract international investment and unleash its web3 workforce upon the world. Somewhere, a blockchain developer is quietly weeping tears of joy.

And as if summoned by fate (or perhaps a very persuasive WhatsApp message), Binance founder Changpeng Zhao was appointed Strategic Advisor after high-level meetings in Islamabad. One wonders if he brought his own samosas.

With an estimated 15 to 20 million cryptocurrency users and a top-10 global ranking in crypto adoption, Pakistan’s digital asset scene is less “sleepy village” and more “bustling bazaar.” The only question left: will the PDAA ride triumphantly into the future—or get lost somewhere between compliance forms and forgotten passwords? 🤔

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2025-05-22 11:43