The Pakistani government has appointed a special assistant to the Prime Minister on blockchain and cryptocurrency, reflecting the US approach to state involvement in the digital assets sector. Local media coverage on monday
The newly created role is given to Bilarbinsakib, the Chief Advisor to the Minister of Finance and CEO of the Pakistan Crypto Council.
Binsakib, a graduate of the London School of Economics, was featured in the Forbes 30 under 30 and won an MBE from Charles III for his work in social impact.
This appointment is because Pakistan is stepping up its efforts to establish itself as a crypto-friendly economy.
This week, the government announced plans to allocate 2,000 megawatts of surplus electricity to Bitcoin mining as part of a broader plan to support mining and AI data centres.
The initiative, driven by Pakistan’s Crypto Council, aims to generate revenue, create high-tech jobs and attract foreign investment.
Former Binance CEO Changpeng Zhao Participation Council as an advisor in early April after serving a four-month U.S. prison term for violating anti-money laundering laws.
But like in the US, Pakistan’s code embrace raised concerns. According to today’s English outlet Pakistan, the push follows a sharp decline in foreign direct investment, which fell 45% in February compared to the previous year.
In January, Pakistan hired US lobbyists to promote conferences in Washington. During the visit, the country’s home minister reportedly pleaded for more US investment. Wall Street Journal.
Shortly afterwards, it began to develop a relationship with World Liberty Financial, a Trump-related crypto project.
Bin Saqib It became Advisor for the project in April shortly after a visit to Pakistan by co-founder Zach Witkov.
During the visit, Witkov and his co-founders signature Mu with the Ministry revealing the possibility that the stubcoin of the world’s freedom will be used domestically for trade and remittances. WLF has been contacted for comment.
Wall Street Journal Zhao also reported that “it has helped to promote referrals for some of World Liberty’s foreign travel.” Zhao It was rejected I’m calling this article “another hit piece.”
edit Sebastian Sinclair
