Pakistan has officially set up the Pakistan Crypto Council (PCC), a regulatory body to provide oversight and support the development of blockchain infrastructure and integration. Finance Minister Muhammad Aurangzeb will head the PCC, with prominent figures on the board, such as the Governor of the State Bank of Pakistan and the Chairman of the Securities Exchange Commission of Pakistan (SECP). Binance founder Changpeng Zhao will also be part of the board to provide advisory services.
The PCC will develop a clear framework for digital assets and crypto service providers, aligning with global standards to strengthen its AML and KYC protocols. The PCC will also rely on Changpeng Zhao’s expertise and advisory services to enhance blockchain infrastructural development.
This move reflects the country’s dedication to developing blockchain technology and leveraging its potential for economic opportunities.