In a great victory for the cryptocurrency market in Pakistan, ChangPeng Zhao (CZ), co -founder and former Executive Director of Binance, the world’s biggest encryption exchange, was set as a Strategic advisor To the Pakistan Cheap Council (PCC).
Binance co -founder to enhance encryption innovation
This announcement was announced by the Ministry of Finance on Monday, in the aftermath of Zhao’s meetings with the main PCC members, including the Federal Minister of Finance, Mohamed Urangazib, who heads the Council, and CEO Bilal bin Sakib.
According to the local media ReportsChangpeng Zhao also held discussions with the Prime Minister and Deputy Prime Minister of Pakistan during his visit to Islamabad during the weekend.
PCC, which was established by the government last month, aims to create an organizational framework for cryptocurrency, a step aimed at attracting international investment.
Although cryptocurrencies like Bitcoin (BTC) are not officially organized in Pakistan, they are not illegal either. Since January 16, 2021, the State Bank in Pakistan has not declared any entities to conduct transactions that involve virtual currencies or coins. Symbols.
“This is a prominent moment for Pakistan; we send a clear message to the world: Pakistan is open to innovation,” Senator Mohamed Uranzib stated during the announcement.
Senator confirmed that with the presence of the former CEO of Shabnis on the plane, the council aims to accelerate its vision of Pakistan as a regional commander in the Web3, digital financing, and Blockchain technology.
Zhao’s vision of Pakistan
As a strategic advisor, Zhao will be said to provide major guidelines on various aspects, including organization, infrastructure development, education and accreditation of encrypted currencies.
His role will include close cooperation with both the Pakistani government and the private sector to create a comprehensive, comprehensive and competitive group globally Ecosystem for encryption.
Zhao has highlighted the potential of Pakistan in terms of the growth of encoded currency, saying: “Pakistan is a country with 240 million people, more than 60 percent of them under 30 years. The potential here is limitless.”
Despite the recent legal challenges-which was resigned by Binance CEO and reached a settlement of $ 4.3 billion with US authorities due to anti-money laundering violations-Zhao is still one of the most influential figures in the encryption industry.
As of January 2025, Forbes appreciates his clear wealth of about 66.6 billion dollars, making it the second most dangerous and richest Canadian in the world.
Zhao’s profession in Coded It started in 2013 as part of the team that developed Blockchain.info. He later served the position of OKCOIN technology officials before the launch of Binance in July 2017.
Within just eight months, Binance became the largest exchange of cryptocurrency in the world through trading, an achievement that was completed after collecting $ 15 million through an initial currency (ICO).
As of now, Binance Coin (BNB) is trading, where it has recorded $ 564, and a price decreased by 11 % over the past two weeks.
Distinctive image from Dall-E, Chart from TradingView.com
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