Federal Minister Tariq Fazal Chaudhry briefed the National Assembly that cryptocurrency is regulated in Pakistan to avoid abuse and illegal transactions.
Representing the government during the question hour session, he explained that the government does not encourage or discourage cryptocurrency, stating that it is not legal tender in the country.
He described that new rules are under development so that digital currencies are used lawfully and in a safe manner. It is aimed at stopping fraud, money laundering, and other financial offenses.
The minister added that the Special Assistant to the Prime Minister is handling cryptocurrency affairs to ensure a safe and transparent environment.
This monitoring is intended to establish an organized process of managing digital assets under the proper legal frame.
Government Developing a Secure Regulatory Environment
In response to a question by Mirza Ikhtiar Baig regarding the legal status of cryptocurrency and FATO objections, Tariq Fazal Chaudhry stated that the government is resolving all issues in light of clear regulations.
He further stated that Pakistan’s regulatory strategy will align with international financial and security standards in order to ensure FATF compliance requirements.
The minister stressed that all the international standards are being kept in view while the cryptocurrency regulation framework is being finalized in Pakistan.
Prioritizing Safety and International Standards
It was said by the officials that the next regulation will safeguard investors and ensure financial transparency in the emerging digital economy.
Analysts opine that Pakistan’s move to regulate cryptocurrency indicates a balanced strategy — preserving innovation, investor security, and financial stability.
Through proper guidelines, the government seeks to manage abuse while facilitating an accountable digital finance system.
