TLDR:
- Former Binance CEO Changpeng “CZ” Zhao has been appointed as strategic adviser to Pakistan’s newly formed Crypto Council
- Pakistan established the Crypto Council in March to oversee blockchain and digital asset adoption
- CZ will advise on cryptocurrency regulation, infrastructure, and adoption to help attract foreign investment
- Pakistan ranks in the top 10 countries for crypto adoption with 20 million active users
- The country sees crypto as a strategic opportunity with 60% of its 240 million population under 30 years old
Pakistan’s Bold Move into Crypto Regulation
Pakistan has taken a major step toward embracing cryptocurrency by appointing former Binance CEO Changpeng “CZ” Zhao as a strategic adviser to its newly formed Crypto Council. The Pakistan Crypto Council (PCC) was established in March 2025 to oversee the adoption of blockchain technology and digital assets in the country.
The appointment was confirmed by Pakistan’s finance ministry and reported by Bloomberg on April 7. The announcement came during Zhao’s visit to Pakistan, where he met with key government officials including Prime Minister Shehbaz Sharif and Finance Minister Senator Muhammad Aurangzeb.
CZ will advise the regulatory body on cryptocurrency regulation, infrastructure, and adoption. His guidance aims to help Pakistan create a compliant, inclusive, and globally competitive crypto ecosystem.
A High-Profile Addition
Changpeng Zhao is one of the most recognizable names in cryptocurrency. He served as CEO of Binance, the world’s largest crypto exchange, from 2017 to 2023. He resigned in November 2023 after pleading guilty to charges related to violating US money laundering laws and was later sentenced to four months in prison.
Despite this legal setback, Pakistan views Zhao as a valuable asset who can help attract foreign investment to its growing crypto sector. Finance Minister Aurangzeb, who also chairs the PCC, called the appointment “a landmark moment for Pakistan.”
“We are sending a clear message to the world: Pakistan is open for innovation,” said Aurangzeb. “With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth.”
Pakistan’s Crypto Landscape
Pakistan has long been considered a potential hub for crypto adoption due to its growing population, large diaspora, and thriving foreign exchange market. The country currently ranks in the top 10 globally for cryptocurrency adoption, with an estimated 20 million active users and over $20 billion in crypto transactions.
“Pakistan is a country of 240 million people, over 60% of whom are under the age of 30. The potential here is limitless,” CZ remarked during the announcement of his appointment.
Bilal bin Saqib, CEO of the Pakistan Crypto Council, expressed similar optimism. “Pakistan is opening its doors to the future of finance,” he said. “And who better to guide us on this journey than CZ — a pioneer who built the world’s largest crypto exchange and changed the way billions think about financial freedom.”
In March, Saqib told Bloomberg that Pakistan plans to develop a clear regulatory framework for digital assets.
“Pakistan is done sitting on the sidelines,” he stated. “We want to attract international investment because Pakistan is a low-cost high-growth market with a Web3 native workforce ready to build.”
Practical Applications of Crypto in Pakistan
Stablecoins have emerged as one of the most prominent use cases for cryptocurrency in regions with high demand for US dollars due to currency depreciation. Although specific data on stablecoin usage in Pakistan is limited, a 2023 KuCoin survey revealed that 33% of local crypto investors use digital assets to hedge against the rupee’s devaluation.
A more recent survey by Bitget found that 46% of respondents in South Asia — a region that includes Pakistan — use digital assets for speed and accessibility of transactions.
Pakistan also stands to benefit from improved remittance channels. The country receives approximately $35 billion in annual remittances. The value of cash sent to Pakistan through formal remittance channels surged at the end of last year amid a countrywide crackdown on black market dollar trades.
“This increase might be because remittances that had previously been sent using the black market are now being sent via official channels,” explained John Ashbourne, an economist at Fitch Solutions.
Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, largely due to strong retail adoption and transactions at centralized services. In 2024, Pakistan ranked ninth among Central and Southern Asia and Oceania countries.
The composition of the Pakistan Crypto Council includes the Minister for Finance and Revenue as Chairman, with members including the Governor of the State Bank of Pakistan, Federal Secretary of Law and Justice Division, Federal Secretary of IT, and Chairman of the Securities and Exchange Commission of Pakistan.
With CZ’s appointment, Pakistan joins countries like Singapore, Dubai, and Switzerland in establishing progressive, Web3-ready regulatory frameworks.
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