Pakistan has said it will set up a national crypto council to develop legislation for the sector, following a meeting with President Donald Trump’s digital asset advisors, according to a report by local news site Dawn.
The council would be a dedicated advisory body that consists of government representatives, regulatory authorities and industry experts. It would oversee policy development as well as collaborate with countries to develop standardised frameworks, the report added, citing a statement from the finance ministry.
Till last year, the nation’s finance ministry had been opposed to regulating crypto in the country, however Finance Minister Muhammad Aurangzeb said he would look into the matter with an open mind, he said in a statement. He also stressed the importance of a well-regulated digital asset framework, the report added.
Aurangzeb also attended a meeting with a foreign delegation said to include President Donald Trump’s digital asset advisors on Tuesday.
Nations have been looking at the U.S. which has been moving to create crypto-friendly policies since the election of Trump.
CoinDesk could not reach out to the Finance Ministry for comment.