Pakistan Appoints Blockchain and Crypto Special Assistant

Bilal Bin Saqib has been appointed as Special Assistant to the Prime Minister on blockchain and crypto with the status of Minister of State in Pakistan.

The appointment of Bilal Bin Saqib as Special Assistant signals Pakistan’s intensified focus on digital assets, aiming to regulate and enhance its blockchain infrastructure.

Among Saqib’s responsibilities are developing a comprehensive regulatory framework and overseeing national initiatives on governance and finance. The government aims to capitalize on its abundant electricity for Bitcoin mining and data centers.

“The prime minister… has been pleased to appoint Mr. Bilal Bin Saqib as Special Assistant to the Prime Minister on Blockchain and Crypto with the status of Minister of State, with immediate effect.” — Bilal Bin Saqib

This strategic initiative seeks to monetize surplus electricity while creating skilled jobs and attracting foreign investment. The direct target is Bitcoin (BTC), impacting potential market dynamics.

Globally, Pakistan joins a select group of countries prioritizing high-level advisory roles in blockchain. Similar past endeavors in countries like El Salvador have shown increased activity around targeted assets such as BTC.

Pakistan’s creation of the Pakistan Digital Assets Authority and allocation of 2,000MW for Bitcoin initiatives may influence market sentiments. Future regulatory clarity could affect the broader digital asset landscape.