According to a Saturday report by state-run Pakistan Television (PTV), Kyrgyzstan and Pakistan have decided to strengthen bilateral collaboration in the areas of digital banking, blockchain technology, and cryptocurrencies.
Recently, the Pakistan government has shown eager to expedite the use of cryptocurrency for gold dealing, banks, and foreign exchange firms. The government-backed Pakistan Crypto Council (PCC) was established in March with the goal of regulating, promoting, and incorporating blockchain and cryptocurrency developments into the nation’s financial and economic structure.
According to PTV, “Minister of State for Crypto and Blockchain Bilal bin Saqib and Director of the National Investment Agency of Kyrgyzstan Farukht Aminov held a high level video conference”.
“The development of virtual assets, technology exchange, and cooperation in regulatory frameworks were emphasized by both sides”, the statement continued.
The Kyrgyz director emphasized the value of sharing knowledge, insights, and best practices from around the world.
Kyrgyzstan has the potential to be a significant partner in digital asset innovation and regulation, according to Bilal bin Saqib. He characterized links between Pakistan and Kyrgyzstan as a solid basis for the future digital economy.
The two nations also talked about formally cooperating in the crypto industry by signing a memorandum of understanding (MoU). In order to create a modern, transparent, and safe digital economy, the participants pledged to keep up their bilateral cooperation.
The video conference attendees also concurred that regional collaborations are necessary to advance digital finance and blockchain in Central and South Asia.
The “Virtual Assets Ordinance, 2025”, which established an independent regulator for cryptocurrencies and virtual assets, was adopted by President Asif Ali Zardari in July.
Michael Saylor, a bitcoin pioneer, has also praised Pakistan’s attempts to embrace digital assets and cryptocurrencies in the past.
SOURCE: DAWN NEWS
