The State Bank of Pakistan cryptocurrency debate has gained momentum after Federal Minister of Finance Muhammad Aurangzeb emphasized the need to introduce cryptocurrency in Pakistan’s banking system. He urged authorities to embrace digital banking transformation and explore the potential of crypto assets.
Pakistan’s Digital Banking Growth and Cryptocurrency Adoption
With digital banking in Pakistan expanding rapidly, Muhammad Aurangzeb highlighted the necessity of considering cryptocurrency adoption. He urged the State Bank of Pakistan (SBP) to explore the introduction of digital currency, acknowledging that crypto is already in informal markets. The growing shift towards digital transactions makes it crucial for Pakistan to establish a regulatory framework for digital assets and AI.
The Finance Minister stressed the importance of regulating digital assets and incorporating AI-driven financial solutions. Speaking at the Pakistan Banking Summit 2025, organized by the Pakistan Banks Association, he highlighted that developing a structured cryptocurrency framework would ensure financial stability and innovation in Pakistan’s banking sector.
During a media talk, Muhammad Aurangzeb revealed that the IMF’s next mission will arrive in Pakistan in the first week of March to assess the country’s financial performance over the last six months. Additionally, a technical mission is already in Pakistan to discuss flexible climate financing.
The IMF mission will stay in Pakistan for three days, evaluating economic progress and ongoing reforms. The Finance Minister also confirmed that Pakistan International Airlines (PIA) will privatized in 2025, reinforcing the government’s commitment to economic restructuring.
Will the State Bank of Pakistan Legalize Cryptocurrency?
The future of State Bank of Pakistan cryptocurrency regulations remains uncertain, but the increasing adoption of crypto assets in informal markets indicates a growing need for official recognition. With Pakistan’s digital banking sector advancing rapidly, introducing a legal framework for cryptocurrency could position the country as a strong player in the global financial landscape.
As Pakistan’s banking sector evolves, the State Bank of Pakistan cryptocurrency discussion continues to gain traction. With government officials advocating for digital innovation, it remains to be seen whether SBP will embrace cryptocurrency and pave the way for a regulated crypto ecosystem in Pakistan.
