Binance CEO Joins Pakistan’s Digital Asset Overhaul as Finance Minister Leads High-Level Policy Meeting

Pakistan’s digital asset landscape entered a defining phase this week on Friday as Finance Minister Senator Muhammad Aurangzeb and PVARA Chairman Bilal Bin Saqib co-chaired a high-level consultative meeting on the National Digital Asset Framework.

The session brought together top leadership from the State Bank of Pakistan, presidents of major banks, and a senior executive delegation from Binance led by Global CEO Richard Teng, marking one of the most significant policy conversations on crypto and digital assets in the country’s history.

The Finance Division emphasized that Pakistan is preparing for a secure, transparent, and innovation-friendly regulatory environment that balances national interest with technological progress. Minister Aurangzeb reiterated the government’s commitment to developing a forward-looking digital asset ecosystem, noting that

“Pakistan’s regulatory direction must protect consumers while enabling modernization of payments, financial access, and responsible innovation.”

A major focus of the meeting was the responsible rollout of compliant on/off-ramp infrastructure and the strengthening of AML/CFT standards across the industry. Both government officials and banking leaders agreed that transparency, traceability, and oversight will be essential as Pakistan formalizes its approach to crypto.

Richard Teng, Binance’s Global CEO, recognized Pakistan’s growing relevance in the global digital economy, highlighting that

“Pakistan already has one of the world’s largest Web3 user bases, and with the right regulatory structure, it has the potential to become a leading hub in digital finance.”

Teng also shared global insights on tokenization, compliance frameworks, and the economic benefits of transitioning users to regulated exchanges.

Discussions also addressed Pakistan’s massive USD 38 billion annual remittance flows, an area where blockchain could significantly reduce transfer costs and improve settlement efficiency. Participants also explored mechanisms for formalizing citizen-held virtual assets, a move that could strengthen financial visibility, stimulate investment, and introduce new revenue channels for the government.

The consultative group reviewed early ideas for a practical taxation structure, including phased capital gains rules, oversight through licensed Virtual Asset Service Providers (VASPs), and a potential limited-time amnesty period to encourage users to migrate from informal channels to regulated platforms.

Bank presidents contributed key insights into custody infrastructure, risk controls, and institutional collaboration. Their participation indicates a major shift: traditional finance players in Pakistan are now actively preparing for a regulated digital asset environment, signalling the potential for new products, investment opportunities, and fintech innovation.

In his closing remarks, PVARA Chairman Bilal Bin Saqib emphasized Pakistan’s opportunity to shape digital finance norms globally. He stated that

“digital assets are not a niche technology, they are foundational financial infrastructure that can expand inclusion, unlock new banking opportunities, and drive national progress.”

He reaffirmed PVARA’s commitment to a Pakistan-first approach guided by regulatory alignment, sandbox environments, and capacity-building across institutions.

With this meeting, Pakistan has clearly advanced from exploring digital assets to actively shaping a national policy framework. With government leadership, the central bank, the country’s largest financial institutions, and Binance’s top global executives aligned at one table, Pakistan is signaling serious intent to formalize and regulate its digital asset economy in the months ahead.