Pakistan is paving the way for cryptocurrency legalization by developing a regulatory framework to promote digital asset trading and attract international investments.

Bilal bin Saqib, CEO of the Pakistan Crypto Council, recently shared on Bloomberg TV that the framework aims to regulate digital asset activities and boost the local crypto ecosystem. This initiative follows the establishment of a national crypto council by Prime Minister Shehbaz Sharif to advance blockchain technology across the nation.

Saqib emphasized Pakistan's untapped potential as a low-cost, high-growth market, with a young and Web3-skilled workforce comprising 60% of its population under 30. He highlighted Pakistan's readiness to embrace digital innovation to attract global investors.

If implemented, Pakistan will become the first South Asian country to legalize cryptocurrencies, taking a step ahead of its regional neighbor India, which has been cautious about cryptocurrency adoption. While Bhutan has been engaged in Bitcoin mining, cryptocurrencies are not officially recognized as legal tender there.

Pakistan's move toward a regulated cryptocurrency market reflects a strategic effort to position itself as a leader in digital finance within the region.