Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib and State Bank of Pakistan (SBP) Governor Jameel Ahmad on Thursday held discussions on digital asset adoption, central bank digital currency (CBDC) implementation, and Pakistan’s evolving regulatory framework for virtual assets.
In a post on its social media platform, PVARA said the meeting reviewed key aspects of Pakistan’s digital asset roadmap, including regulatory coordination and the role of emerging technologies in the financial system.
The engagement comes days after the Ministry of Finance signed a memorandum of understanding with Binance, a global blockchain and digital asset technology firm, aimed at exploring the use of blockchain-based solutions to strengthen Pakistan’s capital markets and broaden investor access.
The MoU was signed at the Finance Division by Finance Minister Muhammad Aurangzeb and Binance Chief Executive Officer Richard Teng, in the presence of Adviser to the Pakistan Crypto Council Changpeng Zhao.
According to officials, the agreement provides a framework to examine potential collaboration on tokenisation and blockchain-based distribution of real-world and sovereign assets, including government bonds, treasury bills, commodity reserves and other federally owned assets. Subject to regulatory approvals and applicable laws, assets of up to $2 billion could be considered under the initiative to improve liquidity, transparency and access to international markets.
Authorities have said that any such initiatives will be aligned with Pakistan’s broader regulatory and monetary policy framework, with the central bank and relevant regulators continuing to assess risks related to financial stability, compliance and consumer protection.
Discover more from Brackly News
Subscribe to get the latest posts sent to your email.
