- PDAA initiated to regulate Pakistan’s crypto industry, valued at $25 billion.
- Muhammad Aurangzeb leads regulatory efforts for digital finance innovation.
- The move aims to attract foreign investment and bolster blockchain startups.
The PDAA seeks to enhance regulatory clarity in Pakistan, ensuring investor protection and attracting global investment, as the nation aligns its crypto market with international standards.
Pakistan has officially established the Pakistan Digital Assets Authority (PDAA) to oversee its burgeoning crypto market, currently valued at around $25 billion. This marks a significant step toward addressing the unregulated status of digital assets in the country.
The initiative is led by Muhammad Aurangzeb, the Federal Minister for Finance and Revenue.
Immediate impacts include heightened confidence among investors and an anticipated boost to blockchain startups in Pakistan. The PDAA plans to manage major cryptocurrencies, stablecoins, and crypto exchanges operating within the country.
This regulatory framework is designed to invite foreign investment, aligning with global best practices and encouraging the responsible use of digital assets under established AML and CTF guidelines.
Pakistan’s regulatory approach follows global trends seen in UAE and Singapore, positioning it as a competitive player in digital finance. Enhanced compliance is likely to increase both investor confidence and direct capital inflow.
Analysts predict that this initiative will lead to a rise in institutional capital and support the country’s ambitions to become a hub for digital finance innovation. The framework aligns with FATF standards, promoting transparency and security in financial transactions.
“With the PDAA, we are creating a future-ready framework that protects consumers, invites global investment, and puts Pakistan at the forefront of financial innovation.” — Muhammad Aurangzeb, Federal Minister for Finance and Revenue, Pakistan
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