Pakistan may soon allow licensed exchange companies to offer crypto trading services. The idea came up during recent meetings in Islamabad between industry leaders and government officials.
The Exchange Companies Association of Pakistan (ECAP) met Minister of State for Finance Bilal Azhar Kayani to discuss how exchange firms can enter the crypto space through a regulated path.
Meetings with Crypto Council and Officials
The ECAP delegation included Chairman Malik Bostan and Secretary General Zafar Paracha. They also met Bilal Bin Saqib, head of the Crypto Council of Pakistan.
The talks focused on one goal. Bring crypto trading under official rules. Move it out of the informal market.
Proposal for Dedicated Crypto Windows
Industry leaders have suggested a clear approach. They want exchange companies to run a dedicated crypto window within their existing operations.
This setup would allow trading under a regulated framework. It would also bring current informal activity into the formal economy.
Crypto Market Already Large in Pakistan
Zafar Paracha shared key figures during the discussion. He said around 25 to 30 million Pakistanis are already trading crypto through informal channels.
He also noted that the total market size has crossed $20 billion. This shows strong activity even without clear regulation.
Exchange companies already play a major role in the economy. They bring in about $12 billion in foreign exchange each year through remittances and other services.
Potential Economic Impact
If crypto trading becomes legal, the impact could be significant. Paracha said foreign exchange inflows could rise to around $24 billion annually.
Malik Bostan added that the Crypto Council is ready to support the process. He said Bilal Bin Saqib has assured full cooperation in moving the proposal forward.
Growing Coordination on Digital Assets
These meetings show closer coordination. Government, regulators, and industry are involved. The focus is on a clear framework for digital assets in Pakistan.
The proposal is still under discussion. It signals a shift toward regulated crypto trading. It also points to broader financial integration.
