Pakistan to join US cryptocurrency policy? ”National Cryptocurrency Committee” under consideration

Pakistan's Ministry of Finance has set up a National Cryptocurrency Committee to explore legalizing cryptocurrencies in the country.
On the 27th (local time), local media outlet Dawn reported that Pakistan is considering establishing a new Pakistan-Japan Security Council.
The report said that a cryptocurrency committee will be established consisting of key government officials, regulators and industry experts.
The remarks were reported after Finance Minister Shamad Aurangzeb held a meeting on digital assets with a foreign delegation, including advisers to U.S. President Donald Trump.
The committee will be tasked with leading policy development, resolving regulatory issues and overseeing the sustainable and secure development of Pakistan's cryptocurrency ecosystem.
Currently, more than 20 million people in Pakistan are involved in cryptocurrencies, but they face various challenges, including high transaction fees.
The ministry has also instructed officials to develop a framework to prevent financial crimes and illegal activities while ensuring regulatory compliance.
The country has strongly opposed the introduction of cryptocurrencies. Former Finance Minister Aisha Ghaus Pasha once declared that cryptocurrencies would never be legalized, and in January 2022
Last year, the State Bank of Pakistan pushed ahead with a proposal to ban all virtual currencies. However, Minister Aurangzeb urged authorities to be open to considering legalizing and regulating crypto assets.20
In November 2014, the State Bank of Pakistan released a package of policy proposals that included the introduction of a central bank digital currency (CBDC) and allowing the buying, selling, and trading of crypto assets.