On March 21, Bilal Bin Saqib, the CEO of Pakistan’s Cryptocurrency Board, proposed an innovative plan to leverage the nation’s abundant hydropower resources for Bitcoin mining at the board’s inaugural meeting. This strategic initiative aims to develop a robust regulatory framework that could position Pakistan as a pivotal cryptocurrency hub in South Asia, according to reports from reliable sources. The meeting featured key stakeholders including legislators, the Governor of the State Bank of Pakistan, and the Chairman of the Securities and Exchange Commission.
Senator Muhammad Aurangzeb emphasized the significance of this initiative, stating, “This marks the beginning of a new digital chapter in our economy.” The board’s vision focuses on fostering a transparent and dynamic financial ecosystem that not only attracts foreign direct investment but also empowers the nation’s youth and enhances its role in the global fintech landscape. As Pakistan looks to capitalize on the growth of digital currencies, this foundational step is seen as crucial for its economic advancement.