news 
Pakistan Set to Introduce Digital Currency Pilot Project
In a recent announcement, the State Bank of Pakistan has confirmed that it will be launching a central bank digital currency (CBDC) pilot program soon. This move is seen as a crucial step in modernizing the country’s financial system and embracing blockchain-based solutions.
As part of its broader strategy to incorporate digital finance, the government has passed the Virtual Assets Act 2025, which establishes an independent regulator to oversee and license crypto-related activities. The new regulatory authority will be responsible for ensuring compliance with specific standards across exchanges, wallet services, and other businesses involved in the virtual asset market.
The Pakistani central bank is building a digital infrastructure that will support the rollout of its CBDC pilot program. This endeavor aims to improve financial transactions by reducing operational costs while enhancing security and accessibility. The initiative seeks to guide future decisions on national digital currency issuance and public adoption.
Pakistan’s crypto sector, particularly in mining, is set to benefit from an unexpected alliance with a prominent Binance founder, who has joined the Pakistan Crypto Council (PCC) as an advisor. The council’s goal is to provide guidance on the use of surplus energy for crypto mining, aiming to balance energy consumption and promote industry efficiency.
In light of these developments, it appears that the Pakistani government and central bank are actively working towards fostering a more digitized financial landscape.
Source: coincentral.com
