Binance CEO attends high-level meeting in Pakistan to discuss regulated digital asset ecosystem
Pakistan has taken a significant step towards creating a regulated digital
asset ecosystem, with senior government officials, banking executives, and Binance’s
leadership, including Global CEO Richard Teng, meeting
at the Finance Division for high-level consultations on the National Digital
Asset Framework.
The meeting, co-chaired by Federal Finance
Minister Senator Muhammad Aurangzeb and PVARA Chairman Bilal Bin
Saqib, brought together key figures such as the Governor of the State Bank
of Pakistan, commercial bank presidents, and Binance’s global team to
strategize Pakistan's path forward in digital asset regulation and innovation.
Key Topics
and Goals
The discussions focused on shaping a secure, transparent, and innovation-driven digital asset environment. Among the key priorities were developing responsible on- and off-ramp infrastructure, raising compliance standards, and fostering stronger integration with regulated financial institutions. A major focus was also placed on developing a licensing regime for Virtual Asset Service Providers (VASPs) to align with global anti-money laundering (AML) and counter-terrorism financing (CTF) standards.
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Regulatory
Framework and Innovation
Senator Aurangzeb reiterated Pakistan’s
commitment to creating a regulatory framework that balances technological
advancements with necessary economic safeguards. He stressed the importance of
collaboration between government agencies, global exchanges, and domestic banks
to modernize the financial sector, enhance financial inclusion, and ensure
alignment with international standards.
Global
Insights and Opportunities
Binance CEO Richard Teng shared insights on
global trends in digital assets and discussed Pakistan’s growing role in the
space. The group explored the potential for blockchain-based systems to reduce
costs in Pakistan’s $38 billion annual remittance flows and emphasized the
importance of building local talent pipelines for blockchain and Web3
technologies.
Other key topics included sovereign debt tokenization to improve liquidity and investor access, as well as developing practical frameworks for taxation and compliance. Proposals under discussion included moving oversight to licensed exchanges, creating a gradual capital gains tax structure, and considering a time-limited amnesty to encourage users to transition assets onto regulated platforms.
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Banking
Perspectives and Financial Stability
Banking leaders provided input on risk
management, custody, and compliance, while Finance Minister Aurangzeb stressed
that a well-regulated environment would not only stabilize the market but also
attract greater investment.
Looking
to the Future
In his closing remarks, PVARA Chairman Bilal
Bin Saqib emphasized Pakistan's potential to shape global digital asset norms
through innovation and coordinated engagement. He highlighted how digital
assets could drive financial inclusion, expand banking services, and offer new
opportunities for Pakistan’s youth.
The meeting concluded with a commitment to ongoing collaboration, capacity-building, and knowledge-sharing, positioning Pakistan as a regional leader in the responsible adoption of digital assets.
Source: Pro Pakistani