Pakistan’s Ministry of Finance has announced the creation of the Pakistan Digital Assets Authority (PDAA), a regulatory body tasked with overseeing the country’s burgeoning crypto and blockchain ecosystem. The PDAA will be responsible for licensing and regulating exchanges, custodians, wallets, tokenized platforms, stablecoins, and decentralized finance applications.
This move aims to formalize Pakistan’s informal crypto market, estimated to be worth over $25 billion, and provide legal clarity for both local and global investors. The PDAA will also facilitate the tokenization of national assets and government debt, enabling more efficient financial operations. Furthermore, the authority plans to monetize Pakistan’s surplus electricity through regulated Bitcoin mining, offering a novel approach to energy utilization.
By establishing the PDAA, Pakistan positions itself as a forward-thinking nation embracing digital innovation. The authority is expected to promote best practices, ensure economic inclusion, and empower youth and startups to develop blockchain-based solutions, fostering a robust digital economy.
