Pakistan, US explore ways for digital asset innovation
Minister of State for Crypto, Blockchain and CEO of the Pakistan Crypto Council Bilal Bin Saqib
Listen to article
Minister of State for Crypto and Blockchain and Pakistan Crypto Council CEO Bilal Bin Saqib has met with US President Donald Trump's Council of Advisers on Digital Assets Executive Director Robert Bo Hines at the White House and discussed strategic alignment of digital assets, bitcoin integration and the future of decentralised infrastructure.
During the meeting, both sides expressed shared interest in fostering collaboration between the US and Pakistan on digital asset innovation, regulatory coherence and emerging financial technologies, said a press release issued by the Ministry of Finance on Wednesday.
They also deliberated on ways to support innovation ecosystems that empower youth and accelerate economic inclusion through blockchain. Bo Hines leads the national policy development on digital asset innovation, regulation and emerging financial technologies. The meeting comes following Pakistan's announcement of creating the Strategic Bitcoin Reserve at the Bitcoin 2025 Conference in Las Vegas, which positions the country as one of the first in Asia to incorporate bitcoin into its sovereign asset strategy.
"I envision Pakistan to be a leader in the Global South for digital assets," Bilal Bin Saqib remarked. "From launching our Strategic Bitcoin Reserve to unlocking national infrastructure for crypto mining and AI data zones, Pakistan is building a real framework for digital asset adoption and economic modernisation."
The minister of state also visited the White House counsel office. Pakistan's broader strategy includes allocating 2,000 megawatts of electricity for bitcoin mining and artificial intelligence-driven data zones with the aim of converting surplus energy into economic growth, job creation and digital infrastructure.
As the global regulatory landscape evolves, Pakistan is taking clear, decisive steps to lead from the front, merging state policy, private innovation and international engagement to shape the next chapter of the global digital asset economy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
2 hours ago
- Business Recorder
Pakistan to recommend Trump for Nobel Peace Prize for ‘decisive diplomatic intervention' in Ind-Pakistan crisis
Pakistan has decided to formally recommend US President Donald Trump for the 2026 Nobel Peace Prize in recognition of his decisive diplomatic intervention and 'pivotal leadership' during the recent India-Pakistan crisis. In a post on X, the Government of Pakistan said, 'President Trump's leadership during the 2025 Pakistan India crisis manifestly showcases the continuation of his legacy of pragmatic diplomacy and effective peace-building.' The statement added that the world bore witness to unprovoked and unlawful Indian aggression, which constituted a grave violation of Pakistan's sovereignty and territorial integrity, resulting in the tragic loss of innocent lives, including women, children, and the elderly. 'In exercising its fundamental right to self-defense, Pakistan launched Operation Bunyanum Marsoos—a measured, resolute, and precise military response, carefully executed to re-establish deterrence and defend its territorial integrity while consciously avoiding civilian harm.' The post added that the US president at a moment of 'heightened regional turbulence', demonstrated great strategic foresight and stellar statesmanship through robust diplomatic engagement with both Islamabad and New Delhi 'which de-escalated a rapidly deteriorating situation, ultimately securing a ceasefire and averting a broader conflict. 'This intervention stands as a testament to his role as a genuine peacemaker and his commitment to conflict resolution through dialogue,' the post read. 'The Government of Pakistan also acknowledges and greatly admires President Trump's sincere offers to help resolve the longstanding dispute of Jammu and Kashmir between India and Pakistan—an issue that lies at the heart of regional instability. Durable peace in South Asia would remain elusive until the implementation of United Nations Security Council resolutions concerning Jammu and Kashmir.' Earlier, the US president in a meeting with Chief of Army Staff (COAS) Field Marshal Syed Asim Munir lauded Pakistan's ongoing efforts for regional peace and stability, and appreciated the robust counter-terrorism cooperation between the two states. President Trump commended the Field Marshal's leadership and decisiveness during a period of complex regional dynamics. He also expressed keen interest in forging a mutually beneficial trade partnership with Pakistan based on long-term strategic convergence and shared interests,' said the ISPR in a statement.
Business Recorder
4 hours ago
- Business Recorder
HK stocks log worst week since April
SHANGHAI: Hong Kong stocks rebounded on Friday but still logged their steepest weekly decline since April, as the lack of new stimulus measures this week weighed on investor sentiment amid broader global tensions surrounding the Iran-Israel conflict. The Hong Kong stock market had witnessed a steady recovery over recent weeks, rebounding from losses triggered by reciprocal tariffs imposed by US President Donald Trump. The benchmark Hang Seng Index has advanced 17% year-to-date. 'The Lujiazui forum this week offered no new measures to boost the capital market, which was a potential letdown for some investors,' said Jason Chan, senior investment strategist at Bank of East Asia. The two-day gathering of top financial regulators and market participants at the annual Lujiazui Forum wrapped up on Thursday, delivering few surprises for market participants. Sentiment is expected to remain weak, with the persistent risk of an escalation in Middle East tensions continuing to cast a shadow over markets, Chan said. 'The market could stay range-bound in the short term.' China kept its benchmark lending rates unchanged on Friday, as expected, after rolling out sweeping monetary easing measures last month to support the economy. China's blue-chip CSI300 Index closed 0.1% higher, while the Shanghai Composite Index lost 0.1%. Hong Kong benchmark Hang Seng was up 1.3%. For the week, the Hang Seng Index was down 1.5%, the biggest drop since the week of April 7, while the CSI300 Index was down 0.5%. Hong Kong's pullback was also exacerbated by fading interest from mainland investors. Their purchases via the Stock Connect scheme have slowed sharply in recent weeks, with net buying this week amounting to just 16 billion yuan ($2.23 billion) — only 20% of the peak recorded in April. The CSI Liquor Index rose 2.2%, leading gains onshore, after the index lost 12% this year on weak consumer demand and a government ban on civil servants dining out. Amid uncertainties related to China-US trade friction, onshore share valuations may be range-bound at low levels near term, UBS strategist Lei Meng said in a note. 'We expect limited downside, and potential upside catalysts mainly from stronger policy easing, the continual entry of medium or long-term funds and structural reforms,' Meng said. Shares of 'Blind Box' toymaker Pop Mart dropped nearly 4% after state media outlet People's Daily called for stricter regulation of the blind box industry, citing expert views. The stock has fallen 13% this week, but soared 165% this year.
Business Recorder
4 hours ago
- Business Recorder
Wall Street mixed with Trump's ME decision in focus
NEW YORK: Wall Street's main indexes were mixed in choppy trading on Friday, as inflation concerns and uncertainty around US involvement in the Iran-Israel war offset relief over President Donald Trump holding back from any immediate action. Trump will take a call in the next two weeks on whether to involve the US military in the conflict, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment. Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts who are hoping to establish a path back to diplomacy. 'Markets are looking for the next bullish catalyst ... until then, investors are still in wait-and-see mode,' said Adam Sarhan, chief executive of 50 Park Investments in New York. Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. On Friday, Fed governor Chris Waller said the central bank should consider cutting rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. At 11:39 a.m. ET, the Dow Jones Industrial Average rose 154.39 points, or 0.37%, to 42,323.97, the S&P 500 gained 3.14 points, or 0.05%, to 5,984.01 and the Nasdaq Composite lost 49.32 points, or 0.25%, to 19,496.95. Six of the 11 major S&P 500 sub-sectors rose.
