Pakistan Advances Digital Asset Plans After Talks With US-Based Icoin Technology

Pakistan has taken another step toward shaping a regulated digital asset ecosystem following a meeting between Finance Minister Senator Muhammad Aurangzeb and a delegation from US-based blockchain firm Icoin Technology Inc. The discussions highlight Pakistan’s intention to move from informal crypto activity toward a structured, transparent, and compliant framework.

During the meeting, the Finance Minister outlined the government’s ongoing efforts to design a responsible digital asset policy. He shared updates on the proposed establishment of the Pakistan Crypto Council and the Pakistan Virtual Assets Regulatory Authority, explaining how these initiatives are intended to bring clarity, improve consumer protection, and support financial inclusion while encouraging innovation.

The Minister noted that Pakistan already ranks among countries with high levels of digital asset usage according to global analytics. However, he emphasized that unregulated participation carries risks for users and the financial system. The government’s objective, he said, is to channel existing activity into a regulated environment that aligns with international best practices and enables long-term market development.

Regulation, according to the Finance Minister, is essential to balance opportunity with risk, particularly as digital asset usage continues to grow among Pakistani citizens. He stressed the importance of coordination between regulators, including the State Bank of Pakistan, to ensure orderly development and create space for institutional participation.

Icoin Technology’s Chairman and CEO, Chet Silvestri, shared insights from the United States and Canadian markets, where regulatory clarity has allowed banks and financial institutions to engage with digital assets without overhauling their core systems. He explained how wallet-based middleware and switching technologies enable banks to connect securely with exchanges, manage liquidity, strengthen compliance, and offer digital asset services through existing banking applications.

The delegation also discussed the role of blockchain and stablecoins in modernizing financial infrastructure. They highlighted how these technologies can reduce transaction costs, improve speed, and enhance transparency while remaining under regulatory oversight. Reference was made to recent legislative developments in the United States aimed at bringing coherence to digital asset regulation, particularly in the area of stablecoins and their integration into the banking system.

Another key theme of the discussion was the growing participation of young and tech-savvy populations in digital assets. The delegation noted that regulated access through banks helps retain this activity within the formal financial system, reducing risks associated with informal or offshore platforms.

Icoin Technology shared details of its global engagements, including partnerships that enable large consumer bases to access digital asset services. The company expressed interest in exploring opportunities in Pakistan through collaboration with local partners and sought guidance on regulatory pathways, licensing requirements, and engagement with banks and regulators.

The Finance Minister advised that early engagement with interested banks and financial institutions would be a constructive next step, alongside continued dialogue with regulators as the policy framework evolves. He reiterated that Pakistan is still at an early but critical stage in shaping its digital asset ecosystem and welcomed knowledge-sharing and responsible investment aligned with national priorities.

Both sides agreed to maintain engagement and explore areas of cooperation to support Pakistan’s efforts to build a transparent, inclusive, and well-regulated digital asset market. The meeting reflects a broader shift in Pakistan’s approach, moving from uncertainty toward structured policymaking in the digital asset space.