By Chris Hollingworth 
Bilal Bin Saqib, the CEO of Pakistan’s Crypto Council, has put forward a groundbreaking proposal to utilize the country’s excess energy for Bitcoin (BTC) mining during the council’s inaugural meeting on March 21. The aim is to leverage Pakistan’s runoff energy to power the energy-intensive process of cryptocurrency mining.
As reported by The Nation, the Crypto Council is actively exploring the development of robust regulatory frameworks for cryptocurrencies. The overarching goal is to attract foreign direct investment and position Pakistan as a burgeoning hub for crypto-related activities. The meeting witnessed the participation of key stakeholders, including lawmakers, the governor of the Bank of Pakistan, the chairman of Pakistan’s Securities and Exchange Commission (SECP), and the federal information technology secretary.
Senator Muhammad Aurangzeb expressed optimism about the transformative potential of the initiatives discussed during the meeting. He highlighted the significance of embracing digital advancements to foster a transparent and forward-looking financial ecosystem. The senator emphasized the importance of attracting investment, empowering the youth, and positioning Pakistan as a global leader in emerging technologies.
The formation of the Crypto Council marks a notable shift from Pakistan’s previous stance on cryptocurrencies. Former minister Aisha Ghaus Pasha had categorically stated in May 2023 that crypto would not be legalized in the country, citing concerns related to anti-money laundering regulations prescribed by the Financial Action Task Force (FATF).
The presence of Bitcoin miners has been recognized for its potential to stabilize electrical grids, as noted in a report from Science Direct. This strategic move by the Crypto Council aligns with Pakistan’s broader objectives to establish a conducive regulatory environment for cryptocurrencies, with the aim of boosting foreign investments in the country.
In a move following the footsteps of the United States, the government of Pakistan took a significant step towards embracing cryptocurrencies as legal tender on November 4, 2024 – coinciding with the US elections. The re-election of Donald Trump in the US paved the way for pro-crypto policies, culminating in the establishment of the Working Group on Digital Assets through an executive order signed by President Trump on January 23.
The executive order also prohibited the government from engaging in activities related to central bank digital currencies (CBDCs). Additionally, President Trump signed another executive order in March 2025, creating a Bitcoin strategic reserve and a digital asset stockpile, which is expected to include cryptocurrencies developed by US-based companies.
As global regulations surrounding cryptocurrencies continue to evolve, Pakistan’s proactive approach towards embracing this digital asset class showcases its commitment to fostering innovation and attracting investment in the burgeoning crypto space.
