In brief
- Bilal Bin Saqib was appointed special assistant to Pakistan’s prime minister on blockchain and crypto.
- The country will also allocate 2,000 MW of surplus electricity to bitcoin mining and AI centers.
- Bin Saqib is also an advisor to World Liberty Financial.
The Pakistani government has appointed a special assistant to the prime minister on blockchain and cryptocurrency, mirroring the U.S. approach to state involvement in the digital asset sector, according to local media reports on Monday
The newly created role has been given to Bilal Bin Saqib, who is also a chief advisor to the finance minister and the CEO of the Pakistan Crypto Council.
A graduate of the London School of Economics, Bin Saqib was featured in Forbes’ 30 Under 30 and received an MBE from King Charles III for his work in social impact.
The appointment comes as Pakistan ramps up efforts to position itself as a crypto-friendly economy.
Binance Co-Founder CZ to Advise Pakistan's New Crypto Council
Binance co-founder Changpeng “CZ” Zhao agreed Monday to advise Pakistan's recently formed Crypto Council amid the nation's push to attract foreign investors. Zhao will guide the council's efforts to advance Pakistan's crypto “regulations, infrastructure, education, and adoption,” Bloomberg Law's Islamabad correspondent reported. The group of Pakistani policymakers aims to promote regulatory clarity on digital assets to “unlock the full potential of the sector” in Pakistan, the country's Finance...
This week, the government announced plans to allocate 2,000 megawatts of surplus electricity to bitcoin mining as part of a broader plan to support mining and AI data centers.
The initiative, driven by the Pakistan Crypto Council, is aimed at generating revenue, creating high-tech jobs, and attracting foreign investment.
Former Binance CEO Changpeng Zhao joined the council as an advisor in early April after serving a four-month U.S. prison sentence for violating anti-money laundering laws.
But as in the U.S., Pakistan’s crypto embrace has raised concerns. The push follows a sharp decline in foreign direct investment, down 45% in February compared to a year earlier, according to English-language outlet Pakistan Today.
In January, Pakistan hired a U.S. lobbyist to facilitate meetings in Washington. During a visit, the country’s interior minister reportedly appealed for more U.S. investment, according to The Wall Street Journal.
Senator Slams Trump’s World Liberty Financial Over 'Seriously Inadequate' Response to Inquiry
Sen. Richard Blumenthal (D-CT) skewered the Trump family’s crypto firm, World Liberty Financial, on Friday—for what he called its “seriously inadequate” response to a Senate inquiry into the company’s business practices. “This seriously inadequate response conveniently avoids the fact that foreign governments and others can enrich and compromise the President through World Liberty Financial,” Blumenthal said Friday in a statement shared with Decrypt, referencing a letter sent to him by the comp...
Shortly after, it began to forge ties with Trump-linked crypto project World Liberty Financial.
Bin Saqib became an advisor to the project in April, shortly after a visit to Pakistan by co-founder Zach Witkoff.
During the visit, Witkoff and his co-founders signed an MOU with the ministry that opens up the possibility of World Liberty’s stablecoin being used in the country for trade and remittances. WLF has been contacted for comment.
The Wall Street Journal also reported that Zhao was “helping facilitate some introductions for World Liberty’s foreign travels.” Zhao denied the claims and called the article “another hit piece.”
Edited by Sebastian Sinclair
