Pakistan moves towards regulated virtual assets, says Aurangzeb
Pakistan is transitioning towards a regulated virtual-assets framework, Finance Minister Muhammad Aurangzeb said on Monday, as the government seeks to harness blockchain and tokenisation for cheaper remittances, SME financing, sovereign debt and broader financial inclusion. Aurangzeb participated in a series of high-level engagements in New York, USA, on the first day of his visit, during the…
Pakistan is moving towards establishing a regulated framework for virtual assets, according to Finance Minister Muhammad Aurangzeb. The government aims to leverage blockchain and tokenization for cheaper remittances, SME financing, sovereign debt, and broader financial inclusion. During his visit to New York on the first day of the UNGA High-Level Week, Aurangzeb emphasized the importance of tokenization addressing real economic needs.
He stressed the need for strong state safeguards, inclusive digital infrastructure, and international cooperation, with emerging economies playing a crucial role in shaping global standards. Aurangzeb highlighted Pakistan's climate vulnerability during his engagements, outlining the government's efforts to strengthen disaster-response frameworks and early-warning systems.
He also called for international climate funds to simplify procedures and accelerate access to financing. At the COP31 Action Agenda launch, Aurangzeb expressed Pakistan's full support for the agenda, aligning with the country's climate priorities and NDC 3.0. He stressed that the main challenge now is effective implementation, praising the agenda's practical and impact-oriented approach.
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