Aurangzeb highlights shift to regulated virtual assets framework

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, speaking in New York, used his opening remarks at a United Nations Digital Cooperation Day session to highlight Pakistan's move toward a regulated framework for virtual assets, Business Recorder reported. The session's theme covered blockchain and tokenisation, and the minister opened the discussion with this policy direction.

Aurangzeb emphasised that tokenisation has to meet genuine economic requirements, such as lower remittance costs, financing for small and medium enterprises, sovereign debt and wider financial access. He added that tokenisation should be judged by whether it addresses those needs.

He stressed that private innovation must sit alongside firm state safeguards and inclusive digital infrastructure. He also urged international cooperation and full participation by emerging economies in writing worldwide standards.