Pakistan Crypto Minister Meets Trump’s Digital Belongings Chief
Pakistan’s minister of state for crypto and blockchain, Bilal Bin Saqib, met with Robert “Bo” Hines, govt director of US President Donald Trump’s Council on Digital Belongings, throughout a go to to the White Home.
The assembly targeted on boosting cooperation between Pakistan and the USA within the digital belongings area. Discussions lined a broad vary of subjects, together with Bitcoin (BTC), potential partnerships and the way forward for decentralized finance, in accordance with a report by 24NewsHD TV.
One key space of dialogue was Pakistan’s newly introduced Strategic Bitcoin Reserve. “It’s my mission to place Pakistan as a worldwide chief in digital belongings,” Saqib stated after the assembly.
“From launching our Strategic Bitcoin Reserve to unlocking nationwide infrastructure for crypto mining and AI knowledge zones, Pakistan is constructing an actual framework for digital asset adoption and financial modernization,” Saqib added.
Hines, appointed by Trump earlier this yr, leads US coverage on digital belongings and works alongside Council Chair David Sacks. The Trump administration has signaled a powerful curiosity in positioning the USA as a worldwide chief on this area.
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Saqib meets with White Home counsel
Past the White Home assembly, Saqib additionally met with officers from the White Home Counsel’s Workplace to debate authorized frameworks surrounding blockchain governance.
Pakistan’s broader crypto technique consists of plans to allocate 2,000 megawatts of surplus energy towards Bitcoin mining and AI knowledge zones. The objective is to rework unused vitality into digital productiveness, create jobs and broaden nationwide infrastructure.
The nation can be creating a regulatory framework for digital belongings. On Might 21, Pakistan’s Ministry of Finance endorsed the creation of a devoted physique to manage blockchain-based monetary infrastructure within the nation.
The Pakistan Digital Belongings Authority (PDAA) will function a regulatory physique to supervise licensing and regulating exchanges, custodians, wallets, tokenized platforms, stablecoins and decentralized finance functions.
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IMF raises considerations over Pakistan’s Bitcoin mining plans
On Might 31, the Worldwide Financial Fund (IMF) raised considerations over Pakistan’s determination to allocate 2,000 megawatts of electrical energy for Bitcoin mining and AI knowledge facilities amid ongoing negotiations tied to the nation’s prolonged monetary program.
The monetary company raised crimson flags concerning the transfer, requesting pressing clarification from the Finance Ministry concerning the legality of crypto mining and the ability allocations, notably because the nation struggles with persistent vitality shortages and financial pressures.
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