Pakistan advances digital asset regulation with Icoin guidance
Pakistan is moving toward a structured and regulated digital asset ecosystem, engaged U.S.-based blockchain infrastructure company Icoin Technology Inc. for guidance on regulatory pathways, licensing, and integration with local financial institutions.
The development shows the government’s efforts to channel growing digital asset activity among Pakistani citizens into formal, transparent, and secure financial channels, according to the press release.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, outlined progress toward the establishment of the Pakistan Crypto Council and the Pakistan Virtual Assets Regulatory Authority (PVARA).
He explained that the regulatory framework is designed to provide clarity for market participants, align with international best practices, and coordinate among regulators, including the State Bank of Pakistan, to support orderly market development, financial inclusion, and consumer protection.
The Finance Minister highlighted Pakistan’s rising participation in global digital asset activity, noting that regulation is essential to balance opportunities with risk.
He emphasized that the evolving framework aims to foster innovation while ensuring oversight and transparency, allowing institutional and retail users to engage safely.
Icoin Technology’s delegation, led by Chairman and CEO Chet Silvestri, shared insights from the United States and Canada, where regulatory clarity has enabled traditional banks and financial institutions to offer digital asset services through existing infrastructure.
The delegation explained how wallet-based middleware and switching technologies allow banks to connect securely with exchanges, manage liquidity, enhance compliance, and provide digital asset services through familiar banking applications.
The discussions also highlighted blockchain and stablecoins as tools to modernize financial infrastructure, enabling faster, lower-cost, and more transparent transactions while maintaining regulatory oversight.
Reference was made to recent U.S. legislative developments aimed at integrating digital assets within the banking system.
The delegation noted that young, tech-savvy populations across markets are increasingly engaging with digital assets, and that regulated participation via banks helps retain activity within the formal financial system.
Both sides explored potential collaboration opportunities in Pakistan, including partnerships with local financial institutions and engagement with regulators.
The Finance Minister advised that initial interaction with interested banks and institutions, alongside continued dialogue with authorities, would be a constructive step in shaping the digital asset ecosystem.
The delegation included Lt. Gen. (R) Terry Robling, Advisor to Icoin Technology, and executives from Techaccess, including CEO Mahmood Azhar Jabbar and CTO Tariq Hafeez Malik.
The meeting concluded with an agreement to maintain engagement, share knowledge, and encourage responsible investment aligned with Pakistan’s national priorities.
