Meeting Overview
During a significant meeting at the White House, Bilal bin Saqib, Pakistan’s Minister of State for Crypto and Blockchain, engaged with Patrick Witt, a crypto advisor to former President Trump, to discuss potential partnerships in the crypto and blockchain sectors. Saqib expressed optimism about leveraging U.S. expertise to create new opportunities within Pakistan’s burgeoning digital asset landscape, calling it a “remarkable day for Pakistan in Washington.”
Focus of Discussions
The talks primarily focused on enhancing cooperation in the crypto arena between the two nations, with both officials acknowledging the critical role of innovative partnerships. Saqib emphasized Pakistan’s ambition to emerge as a global leader in cryptocurrency, viewing this collaboration as a means to strengthen diplomatic relations.
Legislative Frameworks and Global Dialogue
Moreover, Saqib noted that Pakistan is actively working on legislative frameworks aimed at accelerating technological advancements. This meeting follows closely on Saqib’s recent discussions with Zhaslan Madiyev, Kazakhstan’s Minister of Digital Development and Innovation, during the United Nations General Assembly in New York, where he hinted at the need for a historic UN resolution focused on cryptocurrency legislation.
Calling attention to the importance of AI, blockchain, and digital governance for developing economies, Saqib asserted the necessity for nations like Pakistan to influence the evolving global dialogue surrounding these technologies. He raised the prospect of a UN resolution on Bitcoin at the General Assembly, highlighting its absence from official debates thus far, despite the UN’s engagement with issues like climate change and sustainable development.
Digital Asset Adoption in Pakistan
In terms of digital asset adoption, Pakistan ranks third in Chainalysis’ projected Global Crypto Adoption Index for 2025, with over 40 million citizens actively involved in cryptocurrency—an impressive figure that parallels participation in traditional financial systems. Saqib noted that many Pakistanis use digital platforms to expedite and reduce the costs associated with remittances, framing this shift as a necessity rather than a mere trend.
Furthermore, Pakistan’s establishment of a Bitcoin Strategic Reserve was acknowledged, with Saqib clarifying that these assets are intended for strategic growth rather than speculative ventures.
Conclusion
Overall, Pakistan is clearly leveraging the U.S. framework on cryptocurrency to navigate its own digital currency landscape, with officials optimistic about future collaboration and growth in this critical area.
