Pakistan is preparing to take a decisive step towards the digital future with the establishment of the Digital Assets Authority in Pakistan (Pdaa), A new national body charged with organizing growing encryption Blockchain Environmental system.
After years of organizational uncertainty, the government decided to adopt a proactive approach, with the aim of attracting global investments and protecting consumers, and putting the country as a regional pioneer in financial innovation.
The official announcement arrived on May 21 on PTV government TV, which is a fundamental change in economic and technological policy in Pakistan.
Beyond encryption: the distinctive symbol and the organized mining of Pakistan
The new PDAA will be the main supervisory body for all activities related to Digital assetsIncluding cryptocurrency exchange platforms, digital portfolios, nursery services, symbolic platforms, StablecoinAnd The decentralized financing Defi services.
the Delistro Delle FinanzeMuhammad Uranzib stressed the strategic importance of this initiative:
“With PDAA, we create an urgent organizational framework that protects consumers, attracts global investments, and places Pakistan at the forefront of financial innovation.”
PDAA’s delegation will not be limited to the recalntazione of encrypted currencies.
The entity will also be important National origin symbol Public debts, exploration Bitcoin mining organization As a way to achieve income from excess electricity, and support startups that participate in developing Blockchain infrastructure.
This vision is in line with recommendations Crossed currency councilA consulting body established in March, which includes among its members former CEO Binance Changpeng Zhao.
Chairman of the Council, Bilal bin SakibHe stated:
“It is not only related to encrypted currencies, but rather to rewrite our financial future, expand access, and create new export channels through the distinctive symbol, digital financing and WeB3 innovation.”
Pakistan has witnessed a rapid development in its organizational position. Just one year ago, the authorities ruled out the possibility of legalizing encrypted currencies, noting concerns about money laundering.
However, the growing local adoption prompted the government to reconsider its position.
According to Evidence adoption index 2024 Through serial analysis, Pakistan is ranked ninth in the world to accredit the encrypted currency.
Moreover, data from Statista It indicates that the number of encryption users in the country can exceed 27 million by 2025With the estimated market revenues $ 1.6 billion.
International Cooperation: Agreement with WLFI
To increase the strengthening of Pakistan’s commitment in the digital sector, the agreement signed last April with World Liberty Financial (WLFI), a Defi project that supports it Trump family.
On April 26, the founders participating in WLFI- Zach Folkman, Zac Wetkov, and Chis Hiro He met the Pakistani Prime Minister and senior government officials to give the official character of the letter (Loi) with Pakistan encryption council.
The goal of this partnership is to enhance Blockchain’s dependence and accelerate Defi’s growth in the country, by creating Sand boxes organizational Where financial solutions are based on Blockchain. It can be tested.
During a meeting with an international delegation interested in investments in encrypted currencies and the development of Blockchain, Minister Uranzib reiterated the importance of exploring the capabilities of the sector, rather than rejecting it.
Among the participants in the delegation was prominent names such as Genryst Beach JuniorA pledge investor Billion dollars In funding for Pakistan, technological businessman Nikita GoldsmithBlockchain Adviser Alex MalikovAnd the CEO of cosmic wires, Jarad Fink.
Pakistan towards a digital future
With the establishment of the Pakistan Digital Assets, the country is preparing to become a regional center for financial and technological innovation.
The initiative represents a transformation in the model that cannot only turn the national economic system, but also provides new opportunities for growth, employment and technological development.
In a global context in which Blockchain and decentralized financing redefine the rules of the game, Pakistan chooses not to fall behind them.
On the contrary, he puts himself as a hero in a new digital era, ready to seize the opportunities provided by a fast -expanded market.
