Govt working to build structured digital assets ecosystem

Pakistan's government is pursuing a digital assets framework that is orderly and open to new ideas, while keeping suitable protections in place, according to Mettis Link News. Bilal Bin Saqib, chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), met Finance and Revenue Minister Senator Muhammad Aurangzeb to report on his recent visit to Hong Kong. He characterised his engagements there as constructive.

In Hong Kong, he held talks with officials from the Financial Services and the Treasury Bureau, the Hong Kong Monetary Authority and the Securities and Futures Commission. According to a press release, the talks focused on exchanging knowledge and practical use cases relevant to Pakistan. The exchanges also explored new openings in virtual assets and digital finance, such as blockchain and tokenisation in financial markets, stablecoins, compliance frameworks and digital financial infrastructure.

The chairman outlined lessons from Hong Kong and how they might suit Pakistan's virtual assets sector, touching on digital financial products, tokenisation and possible institutional cooperation. Aurangzeb welcomed the update and repeated that a well-organised framework for digital assets is essential. He urged officials to build on these contacts and identify workable use cases that can strengthen the country's digital finance sector.