Pakistan Has 4 Crore Crypto Accounts

Around 40 million Pakistanis have opened cryptocurrency accounts, according to Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib, who spoke before a Senate committee on Monday. The country has become one of the world's largest crypto markets due to its young population and growing freelance economy, Saqib said.

Pakistan ranks among the top countries globally for freelancers, with millions of people increasingly using digital assets and blockchain-based services. Saqib revealed that approximately 40 million Pakistanis currently possess crypto accounts, many of which were established before formal regulations were implemented. The government is currently working to integrate the sector into a proper legal and regulatory framework, Saqib added.

Furthermore, Pakistan is exploring how other countries regulate virtual assets and blockchain technology as it develops its own regulatory system. He mentioned Dubai and Thailand as examples of nations where blockchain and virtual asset-related activities are already integrated into regulated financial and economic systems. Saqib highlighted that blockchain technology is also being adopted internationally for financial applications, such as bonds.