-
The International Monetary Fund (IMF) has raised significant concerns over Pakistan’s ambitious plan to allocate 2,000 megawatts of electricity for Bitcoin mining amidst ongoing energy shortages.
-
This initiative aims to attract blockchain and AI firms, but it faces scrutiny during critical budget discussions, raising questions about its feasibility.
-
“The legality of crypto mining and its implications on power tariffs are under urgent review,” stated a Samaa news report.
The IMF’s scrutiny highlights ongoing fiscal challenges in Pakistan as the country navigates its Bitcoin mining strategy amid energy woes.
IMF’s In-Depth Review of Pakistan’s Bitcoin Strategy
The IMF is poised to conduct a focused session addressing Pakistan’s electricity allocation for Bitcoin (BTC) mining and AI data centers. This initiative forms part of a broader strategy aimed at integrating digital assets within the national economy.
Establishment of the Pakistan Digital Asset Authority
A pivotal aspect of this initiative is the creation of the Pakistan Digital Asset Authority (PDAA), which received approval from the Finance Ministry earlier this year. The PDAA aims to regulate digital currency exchanges, wallets, and decentralized finance (DeFi) platforms, ensuring compliance with standards set by the Financial Action Task Force (FATF).
Pakistan’s Commitment to a Digital Economy
The launch of a national Bitcoin wallet was announced at the Bitcoin Vegas 2025 conference, showcasing Pakistan’s commitment to fostering a robust digital asset ecosystem. Bilal bin Saqib, the crypto adviser to Prime Minister Shehbaz Sharif, emphasized the government’s dedication to support and regulate this emerging sector.
Government’s Shift Towards an Active Crypto Policy
Earlier this year, the Pakistani government proposed the formation of a “National Crypto Council” to create a comprehensive regulatory framework focused on digital assets. This council aims to attract foreign investments and streamline operations within Pakistan’s burgeoning crypto landscape.
Use of Surplus Energy for Mining Operations
The council suggested leveraging surplus energy resources to fuel Bitcoin mining and data center functions. Such measures could not only enhance the nation’s tech infrastructure but also align with the government’s vision of a modern economy.
Expert Guidance from Industry Leaders
In a significant partnership move, Binance co-founder Changpeng Zhao was appointed as an adviser to the National Crypto Council. Zhao is expected to play an influential role in shaping crypto regulations and advancing blockchain technology adoption in Pakistan.
Conclusion
As the IMF continues to deliberate on Pakistan’s Bitcoin mining plans, the nation’s strategy reflects a significant pivot towards digital finance. The complexities surrounding energy allocation and regulatory frameworks will be pivotal in determining the success of these initiatives. With robust expert guidance and a planned regulatory structure, Pakistan aims to carve a niche in the evolving landscape of cryptocurrencies.
