IslamabadPakistan took the first important step towards forming the future of cryptocurrencies and Blockchain with the opening meeting of the Pakistan Cheap Council (PCC) that was held today. The meeting was chaired by the Federal Minister of Finance and Revenue, Senator Mohamed Uranzib, on the occasion of a pivotal moment in the country’s digital financing scene.
According to the Ministry of Finance’s statement, the meeting brought together the main stakeholders, including the CEO of PCC Bin Bin Saqib, the governor of Pakistan Governmental Bank, Chairman of the Securities and Stock Exchange Committee in Pakistan (SECP), and Federal and Legal IT trusks. These diverse gatherings of decision makers stressed the importance of following a unified strategic approach to the ecosystem for encryption in Pakistan.
CEO Bilal Bin Sakb has identified a comprehensive and important vision for the council, with highlighting the unused capabilities of Pakistan in the encryption sector. It sheds light on the current challenges, including organizational ambiguity, and emphasized the need for a clear framework to cancel the full industry capabilities.
The main proposal was to use the surplus of electricity in Pakistan to extract bitcoin, which turns national responsibility into a possible economic origin. Saqib also stressed the importance of learning from successful organizational models in other regions, with the allocation of strategies for social and economic landscapes in Pakistan.
Senator Mohamed Uranquit praised the initiative and repeated the government’s commitment to strengthen an environment that is responsible and thinking forward. He emphasized that PCC will serve as an umbrella platform, as all stakeholders involved to design a cooperative regulatory framework that guarantees transparency, safety and growth.
“This represents the beginning of a new digital chapter for our economy. We are devoted to building a transparent and ready -made financial environmental system in the future that attracts investment, enables our youth, and Pakistan is placed as a global pioneer in emerging technologies,” said Senator Oranjevs.
During the call to international best practices, the minister stressed the importance of developing business and revenues models that are in line with the economic facts of Pakistan. He also highlighted the need to build on the current efforts by various institutions, ensuring a coherent approach to adopting encryption and organization.
Members of the Council, including representatives from the State Bank in Pakistan, SECP, and federal ministries, have actively discussed discussions on creating a well -defined organizational framework. The main priorities included:
- Developing clear legislation and licensing systems
- Ensure consumer protection in encryption transactions
- Blockchain mining enhancement as an economic opportunity
- Blocchain’s national policy formulation
- Implementing experimental programs for gradual encryption adoption
- Align policies with international standards and obligations
The meeting concluded with a joint commitment to drawing a strategic path forward. Since Pakistan is taking its first official step in the field of encryption and Blockchain, PCC’s cooperative efforts will be useful in forming a safe, effective and innovative digital financial system with the protection of national economic interests.
