Islamabad:
Pakistan Crypto Council (PCC) holds an important meeting on June 2nd to consider the rules and legal framework related to the wider scenario for digital and cryptocurrencies in Pakistan, according to a message from the Ministry of Finance on Friday.
Federal Finance Minister Muhammad Aurangzeb will be chairman of the meeting to be attended by PCC chief Bilal bin Saqib, State Bank of Pakistan (SBP) Governor, Securities and Exchange Commission of Pakistan (SECP) President and Secretaries of the Ministry of Law and Information Technology.
According to the Ministry of Finance, the most important agenda items at the meeting include the development of a robust regulatory framework for digital and virtual assets in Pakistan, which will be in line with global standards and technological developments.
It said the meeting has been called as a strategic forum to consider the rules and the legal framework related to crypto in Pakistan. “A central topic of discussion will be the preliminary preparation for the creation of ‘Pakistan Virtual Assets Regulatory Authority’.
The proposed authority will be an autonomous body that will oversee digital funding and crypto -ecosystem in the country. “This meeting reflects the government’s obligation to create a financial architecture so that stability and regulation in the new digital economy is also secured,” it said.
According to the Ministry of Finance, the Council aims to lay the basis for a secure, transparent and legislative environment with a view to a responsible adoption of blockchain technology and promoting investor protection and financial inclusion.
