Pakistan with an innovative proposal for using Bitcoin

Pakistan’s quest to become a global crypto leader took a significant turn on March 21 when Bilal Bin Saqib, CEO of the country’s Crypto Council, proposed using the country’s surplus energy to mine Bitcoin.

This proposal, shared during the council’s first official meeting, is part of a broader strategy to position Pakistan as a hub for cryptocurrency innovation.

The meeting brought together key figures, including senior officials from the financial sector and the Pakistani government. Along with discussing energy recovery, the council is also working on creating a regulatory framework aimed at attracting foreign investment and ensuring the country’s competitiveness in the rapidly growing digital asset sector.

Senator Muhammad Aurangzeb emphasized that this initiative signals a new direction for the Pakistani economy, aimed at building a modern, transparent financial ecosystem that benefits the youth and ensures the country's place on the global technology map.

This change marks a significant difference compared to the government's previous position, especially after the strong anti-crypto stance of former Finance Minister Aisha Gaus Pasha, who in May 2023 made it clear that the government would never legalize cryptocurrencies, citing concerns about compliance with anti-money laundering rules under international standards such as those of the Financial Action Task Force (FATF).

However, Pakistan is not alone in its changing stance on digital currencies. The country’s recent move to regulate cryptocurrencies has coincided with global trends, especially in the United States, where similar actions have been taken. Following the re-election of President Donald Trump in November 2024, the United States has moved quickly to adopt crypto-friendly policies.

In January 2025, Trump signed an executive order to create a Digital Assets Task Force, which focuses on comprehensive crypto regulations and prohibits the development of a U.S. central bank digital currency (CBDC). In addition, the U.S. government is working to create a strategic Bitcoin reserve, reflecting the growing importance of digital assets globally.