Pakistan launches digital assets authority to regulate cryptocurrency market
Pakistan’s government announced Wednesday the creation of a new regulatory body to oversee digital assets, aiming to modernize its financial sector and attract global investment in blockchain technology. The Pakistan Digital Assets Authority (PDAA) will regulate cryptocurrency exchanges, digital wallets, tokenized assets and decentralized finance (DeFi) platforms, the Ministry of Finance said in a statement. The move is part of a broader strategy to formalize the country’s estimated $25 billion informal crypto market while ensuring compliance with global anti-money laundering standards set by the Financial Action Task Force (FATF). “Pakistan must regulate not just to catch up — but to lead,” Finance Minister Muhammad Aurangzeb said. “The PDAA will protect consumers, invite investment and position Pakistan at the forefront of financial innovation.” The authority will oversee licensing, monitor compliance and promote blockchain-based solutions, aligning Pakistan with other na...
