Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) Bilal Bin Saqib met with US Chargé d’Affaires Natalie Baker to discuss Pakistan’s evolving regulatory framework for digital assets. The meeting in Islamabad focused on developments in Pakistan’s digital assets sector and the country’s efforts to establish a regulatory framework covering an emerging area of the financial and technology ecosystem.
During the meeting, Bilal Bin Saqib briefed the US diplomat on developments taking place in Pakistan’s digital assets sector and the steps being taken to establish what he described as a modern and robust regulatory framework. The discussions also covered innovation, financial transparency and the broader future of the digital economy. The engagement comes as Pakistan continues to develop its regulatory approach toward virtual assets and related financial technologies.
Bilal said Pakistan was developing a modern and robust regulatory framework for the digital assets sector. He also said the country was laying the foundations for a digital economy while considering the future requirements of its financial system. His comments placed regulatory development alongside wider efforts to incorporate technology and digital financial activity into the country’s economic framework.
The meeting also addressed the role of innovation in the development of the digital economy. Alongside technological development, financial transparency was identified as another area of discussion, reflecting the need for digital asset activity to operate within a structured regulatory environment. Recent reporting has similarly described Pakistan’s regulatory efforts as focused on developing a transparent framework for the virtual asset market.
Bilal said innovation and financial transparency were helping Pakistan establish a new direction for its digital economy. The statement reflects the government’s stated focus on creating regulatory structures while continuing to engage with international counterparts on digital finance and virtual assets.
The engagement with Baker is part of broader discussions around Pakistan’s digital asset regulatory environment. Earlier in September, Bilal had also briefed Finance Minister Muhammad Aurangzeb following engagements with policymakers and financial institutions in Hong Kong, where discussions included digital assets, stablecoins, compliance frameworks, blockchain and tokenisation. The Finance Division said those discussions were intended to identify international practices and their potential relevance to Pakistan’s emerging virtual assets ecosystem.
Pakistan has also been engaging with international institutions and stakeholders on the regulatory and institutional requirements surrounding digital assets. On September 12, Bilal addressed a United Nations session on digital assets and blockchain, where he discussed the need for regulatory and institutional frameworks alongside innovation, while also highlighting risks associated with virtual assets and digital finance.
The latest meeting with the US Chargé d’Affaires therefore adds another international engagement to Pakistan’s ongoing digital asset policy discussions. The immediate focus remained on the country’s evolving regulatory framework, innovation, financial transparency and the future of the digital economy, while the development of specific regulatory measures remains part of the broader process of establishing the country’s virtual asset market framework.
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