Around 40 million Pakistanis somehow have opened cryptocurrency accounts, Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib told a Senate committee on Monday.
He said Pakistan has emerged as one of the world’s largest crypto markets because of its young population and expanding freelance economy.
He said Pakistan ranks among the top countries for freelancers globally, with millions of people increasingly using digital assets and blockchain-based services.
He said nearly 40 million Pakistanis currently hold crypto accounts while many of these accounts were opened before formal regulations were introduced.
Saqib commented that the government is now working to bring the sector under a proper legal and regulatory framework. He also said Pakistan is examining how other countries are regulating virtual assets and blockchain technology as it develops its own regulatory system.
He mentioned countries such as Dubai and Thailand, where blockchain and virtual asset-related activities are already being incorporated into regulated financial and economic systems.
The PVARA chairman said blockchain technology is also being adopted internationally for financial applications including bonds.
The post Pakistan Has 4 Crore Crypto Accounts appeared first on ProPakistani.