Bilal bin Saqib, the CEO of the Pakistan Crypto Council (PCC), has been named by Prime Minister Shehbaz Sharif as his special assistant on blockchain and cryptocurrencies, with the rank of minister of state.
The finance ministry declared on February 25 that it was thinking about “forming a National Crypto Council” in order to embrace new digital currencies in accordance with worldwide patterns. The PPC then named Saqib its chief executive officer.
Saqib will now be in charge of creating a thorough, FATF-compliant regulatory framework for digital assets, starting Bitcoin mining projects, and managing blockchain integration in land records, governance, and finance, according to a news release released today.
He would also support “investor protection and Web3 ecosystem growth” and “licensing and oversight of virtual asset service providers (VASPs)” in the nation.
Part of Forbes ’30 under 30′ list, Saqib is the cofounder of Tayaba, a “social enterprise that aims to provide solutions to the water crisis in Pakistan”, according to the journal.
According to the statement, he was also awarded his MBE in 2023 for his services to the National Health Service of the United Kingdom.
An MBE, or “Member of the Most Excellent Order of the British Empire”, is given for a remarkable accomplishment or community contribution that has had a major, long-lasting influence.
This selection demonstrated the nation’s “commitment to aligning with global trends”, the statement said today.
“Pakistan is taking a forward-thinking approach by empowering a youth leader to help steer national strategy in emerging technologies, just as the United States has incorporated leaders like David Sacks – appointed by Donald Trump as the White House AI and Crypto Czar – into its digital policy framework”, the statement said.
According to the 2023 Chainalysis Global Crypto Adoption Index, the nation is regularly ranked in the top 10 globally for crypto adoption, indicating that it is at a “critical digital crossroads”, the press statement added.
According to the report, there are currently 40 million cryptocurrency users in Pakistan, and the country’s yearly cryptocurrency trade volume exceeds $300 billion.
It further stated that the “nation boasts the fourth largest freelancer market worldwide and produces around 40,000 IT graduates annually”.
“Pakistan’s distinct demographic and digital environment present an unparalleled chance to advance into the future of technology – where blockchain and cryptocurrency will propel economic growth, innovation, and worldwide competitiveness”, claims Saqib.
SOURCE: DAWN NEWS
