Pakistan Appoints Bilal Bin Saqib as Special Assistant to PM on Crypto and Blockchain
Key Takeaways:
- Bilal Bin Saqib has been appointed as Special Assistant to the Prime Minister on Blockchain and Crypto.
- His role includes drafting crypto regulations, launching mining projects, and integrating blockchain into government systems.
- Pakistan is ramping up digital efforts with 2,000 MW allocated to Bitcoin and AI infrastructure.
Pakistan Prime Minister Shehbaz Sharif has elevated the Crypto Council CEO Bilal Bin Saqib to the role of Special Assistant to the PM on Blockchain and Crypto, granting him the status of a minister of state.
The appointment has been made under Rule 4(6) of the Rules of Business, 1973, and takes immediate effect, local media reported, citing an official notification issued by the Prime Minister’s Office on May 26.
Saqib, a graduate of the London School of Economics and recipient of the MBE from King Charles III, already plays a central role in Pakistan’s crypto landscape.
He leads the Pakistan Crypto Council (PCC) and serves as Chief Advisor to the Finance Minister. Under his leadership, the PCC has fostered high-profile partnerships, including a recent agreement with World Liberty Financial (WLF), a DeFi initiative endorsed by Donald Trump.
Saqib Appointed CZ as Strategic Advisor to PCC
Saqib has also invited Binance founder Changpeng Zhao (CZ) to act as a Strategic Advisor to the PCC, helping shape regulatory frameworks, education programs, and infrastructure development.
As Special Assistant, Saqib will be tasked with key responsibilities: drafting FATF-compliant crypto regulations, launching state-backed Bitcoin mining projects, and overseeing blockchain integration in governance, land records, and finance.
He will also supervise licensing of virtual asset service providers and advance investor protection measures in the Web3 space.
Pakistan’s crypto market is already sizable. Chainalysis ranked it among the top 10 globally in 2023, with nearly 40 million users and $300 billion in annual trading volume.
The country also produces 40,000 IT graduates each year and ranks fourth globally in freelance work.
Saqib’s appointment comes as Pakistan looks to leverage its digital potential and youthful population, where over 60% are under 30.
With this appointment, Pakistan joins a select group of nations, among them the U.S., UAE, and El Salvador, that have elevated crypto and blockchain oversight to the ministerial level.
Pakistan Reserves 2,000 MW to Power Crypto Mining and AI Centers
On Sunday, Pakistan committed 2,000 megawatts of surplus electricity to fuel Bitcoin mining and artificial intelligence centers, marking a bold step in its digital transformation agenda.
The initiative aims to attract foreign investment while positioning the country as a serious player in the tech economy.
In the first phase, the government will direct excess power to infrastructure supporting crypto mining and AI development.
Finance Minister Muhammad Aurangzeb said the project is expected to bring billions in capital inflows and create high-skilled jobs nationwide.
He also confirmed that foreign companies have already begun exploring partnership opportunities, with several delegations visiting in recent months.
Saqib had earlier proposed the idea of utilizing untapped energy reserves for crypto mining during the Council’s March 21 meeting, attended by key regulators and government officials.
The second phase of the plan involves integrating renewable energy into these operations, aligning with broader sustainability goals.
The post Pakistan Appoints Bilal Bin Saqib as Special Assistant to PM on Crypto and Blockchain appeared first on Cryptonews.
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Pakistan Appoints Bilal Bin Saqib as Special Assistant to PM on Crypto and Blockchain
Key Takeaways:
- Bilal Bin Saqib has been appointed as Special Assistant to the Prime Minister on Blockchain and Crypto.
- His role includes drafting crypto regulations, launching mining projects, and integrating blockchain into government systems.
- Pakistan is ramping up digital efforts with 2,000 MW allocated to Bitcoin and AI infrastructure.
Pakistan Prime Minister Shehbaz Sharif has elevated the Crypto Council CEO Bilal Bin Saqib to the role of Special Assistant to the PM on Blockchain and Crypto, granting him the status of a minister of state.
The appointment has been made under Rule 4(6) of the Rules of Business, 1973, and takes immediate effect, local media reported, citing an official notification issued by the Prime Minister’s Office on May 26.
Saqib, a graduate of the London School of Economics and recipient of the MBE from King Charles III, already plays a central role in Pakistan’s crypto landscape.
He leads the Pakistan Crypto Council (PCC) and serves as Chief Advisor to the Finance Minister. Under his leadership, the PCC has fostered high-profile partnerships, including a recent agreement with World Liberty Financial (WLF), a DeFi initiative endorsed by Donald Trump.
Saqib Appointed CZ as Strategic Advisor to PCC
Saqib has also invited Binance founder Changpeng Zhao (CZ) to act as a Strategic Advisor to the PCC, helping shape regulatory frameworks, education programs, and infrastructure development.
As Special Assistant, Saqib will be tasked with key responsibilities: drafting FATF-compliant crypto regulations, launching state-backed Bitcoin mining projects, and overseeing blockchain integration in governance, land records, and finance.
He will also supervise licensing of virtual asset service providers and advance investor protection measures in the Web3 space.
Pakistan’s crypto market is already sizable. Chainalysis ranked it among the top 10 globally in 2023, with nearly 40 million users and $300 billion in annual trading volume.
The country also produces 40,000 IT graduates each year and ranks fourth globally in freelance work.
Saqib’s appointment comes as Pakistan looks to leverage its digital potential and youthful population, where over 60% are under 30.
With this appointment, Pakistan joins a select group of nations, among them the U.S., UAE, and El Salvador, that have elevated crypto and blockchain oversight to the ministerial level.
Pakistan Reserves 2,000 MW to Power Crypto Mining and AI Centers
On Sunday, Pakistan committed 2,000 megawatts of surplus electricity to fuel Bitcoin mining and artificial intelligence centers, marking a bold step in its digital transformation agenda.
The initiative aims to attract foreign investment while positioning the country as a serious player in the tech economy.
In the first phase, the government will direct excess power to infrastructure supporting crypto mining and AI development.
Finance Minister Muhammad Aurangzeb said the project is expected to bring billions in capital inflows and create high-skilled jobs nationwide.
He also confirmed that foreign companies have already begun exploring partnership opportunities, with several delegations visiting in recent months.
Saqib had earlier proposed the idea of utilizing untapped energy reserves for crypto mining during the Council’s March 21 meeting, attended by key regulators and government officials.
The second phase of the plan involves integrating renewable energy into these operations, aligning with broader sustainability goals.
The post Pakistan Appoints Bilal Bin Saqib as Special Assistant to PM on Crypto and Blockchain appeared first on Cryptonews.
Read More
Russia to allow crypto derivatives but not custody as local trading volume hits $93B