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The government has reiterated its commitment to building a transparent and secure regulatory framework for digital assets, as senior officials held a high-level meeting with Binance leadership, including its Global CEO Richard Teng, during his visit to Islamabad.

Prime Minister Shehbaz Sharif and Chief of Defence Forces, Field Marshal Asim Munir were also present in the meeting. The meeting was briefed on Pakistan’s emerging virtual asset ecosystem. Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), also participated and outlined the authority’s recent progress and ongoing initiatives.

Read: Pakistan ranks third globally in crypto despite no regulation: Bilal Bin Saqib

In a statement, the Prime Minister’s Office said the government remained committed to creating “a transparent and secure regulatory framework for digital assets to promote innovation while safeguarding investors’ interests.”

The engagement comes as Pakistan prepares to step into the global digital finance arena through the launch of its first stablecoin—part of a broader plan to integrate virtual assets into the national economy.

Saqib had earlier confirmed the development during Binance Blockchain Week, where he said Pakistan would “definitely launch” a stablecoin while also progressing on Central Bank Digital Currencies (CBDCs).

He made the comments during a panel discussion on emerging-market regulation hosted by the Pakistan Crypto Council. His appearance followed earlier announcements this year, including the unveiling of Pakistan’s first government-led Strategic Bitcoin Reserve at Bitcoin Vegas—an event attended by prominent US political figures.

In May, the government allocated 2,000 megawatts of electricity for the first phase of a national programme supporting Bitcoin mining and artificial intelligence data centres.

Pakistan remains one of the world’s most active crypto markets. According to the 2025 Chainalysis Global Crypto Adoption Index, the country ranks third globally—ahead of major economies including China, Germany and Japan. It also stands second in retail-size crypto transactions and third in activity on centralised exchanges, reflecting a market driven by high transaction volumes.

Also Read: Pakistan to launch first stablecoin, says official

Saqib said Pakistan seeks to channel this momentum through a structured regulatory environment that protects investors without stifling innovation. “Pakistan is the world’s third-largest crypto market without any regulatory framework,” he said at Binance Blockchain Week Dubai. “Now we want to turn this momentum into a global case study.”

He cautioned, however, that the rankings measure transaction volume rather than the number of individual crypto holders. Estimates suggesting 20 to 40 million Pakistani users, he added, remain unverified due to the absence of independent nationwide studies.

Pakistan now finds itself at a critical point: a rapidly growing youth-driven crypto market is expanding alongside a regulatory framework still under development. While adoption continues to surge—particularly among younger, tech-oriented users—risks linked to volatility, limited public awareness and past scams persist.

Pakistan’s future as a high-growth crypto market, Saqib said, will depend on how effectively regulation balances innovation, investor protection and long-term stability.