Govt taps HK expertise for virtual assets

According to a statement released on Tuesday, Pakistan is looking at new openings in virtual asset and digital finance spaces, including possible use of blockchain and tokenisation in financial markets. The move follows talks between the Pakistan Virtual Assets Regulatory Authority (PVARA) and policymakers in Hong Kong.

PVARA Chairman Bilal Bin Saqib briefed Senator Muhammad Aurangzeb, the federal finance and revenue minister, after his recent Hong Kong trip, where he met the Financial Services and the Treasury Bureau, the Hong Kong Monetary Authority and the Securities and Futures Commission. Discussions covered global practices on digital assets, stablecoins, compliance rules and digital financial infrastructure. Saqib also outlined his views on digital financial products, tokenisation and possible institutional cooperation.

Aurangzeb stressed that Pakistan needs a digital assets ecosystem that is responsible, transparent and well-structured, encouraging innovation while keeping suitable protections in place. He welcomed outreach to international policymakers and asked that these contacts be used to identify practical use cases for Pakistan's digital financial ecosystem.