At UN briefing, Pakistan calls for unified global framework for digital assets

Pakistan has urged the immediate creation of global regulatory and institutional frameworks for digital assets, according to Dawn. Speaking virtually at a United Nations briefing on Saturday, Bilal Bin Saqib, Minister of State and chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), asked member states to build institutions that can manage next-generation finance. He said coordinated governance is needed so these innovations deliver economic inclusion and efficiency.

The session, held at UN headquarters, was organised by Pakistan's mission to the United Nations with UNDP, UNCTAD and the office of the Secretary-General's technology envoy. Saqib said tokenisation and distributed ledgers could modernise financial infrastructure, and he pointed to 1.4 billion adults worldwide who remain outside formal finance. He added that digital identity could help small businesses, farmers and women entrepreneurs prove economic activity without depending solely on collateral.

Saqib cautioned, however, that technology is not an automatic remedy and named risks including retail volatility, illicit finance and concentrated power. He warned that late regulation could leave consumers exposed, while fear-driven rules may push activity into less transparent corners. He called on states to see the session as a first step toward closer cooperation.