Binance founder and crypto billionaire Changpeng Zhao has been appointed as a strategic adviser to the Pakistan Crypto Council (PCC), the Finance Division announced on Monday.
The announcement followed Zhao’s meetings with key PCC members, including Federal Minister for Finance Muhammad Aurangzeb, chairman of the council, and CEO Bilal Bin Saqib. He also met the Prime Minister and Deputy Prime Minister during his visit to Islamabad.
The PCC, established last month, aims to create a robust legal framework for cryptocurrency trading to attract international investment. While cryptocurrencies such as Bitcoin are not formally regulated in Pakistan, they are neither banned nor deemed illegal. The State Bank of Pakistan, as of January 2021, has yet to authorize any entity for virtual currency-related activities.
“This is a defining moment for Pakistan, showcasing our readiness to embrace innovation,” Aurangzeb said. He added that Zhao’s inclusion is set to position Pakistan as a regional leader in Web3, digital finance, and blockchain technology.
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In his advisory role, Zhao will guide efforts in regulation, infrastructure development, education, and adoption to establish a globally competitive and inclusive crypto ecosystem.
Zhao noted Pakistan’s immense potential, highlighting its youthful population of over 60% under the age of 30, calling it a country brimming with limitless possibilities.
