From Cointelegraph

May 22, 2025 2:12:00 AM:

Pakistan’s Ministry of Finance has approved the establishment of the Pakistan Digital Assets Authority (PDAA) to regulate blockchain-based financial infrastructure. The PDAA will oversee licensing, exchanges, and decentralized finance applications. The move aims to position Pakistan as a leader in financial innovation and attract global investment.

The PDAA will also tokenize national assets, facilitate regulated Bitcoin mining for surplus electricity monetization, and support blockchain startups. The regulatory body was recommended by the Cryptocurrency Council, with former Binance CEO Changpeng Zhao as an adviser. The goal is to expand financial access and create new export channels through digital finance and Web3 innovation.

Despite previous skepticism, Pakistan’s crypto market has seen significant growth. In 2024, the country ranked ninth in Chainalysis’ global crypto adoption index, driven by strong retail adoption and transactions. Statista projects over 27 million crypto users in Pakistan by 2025, with revenue expected to reach $1.6 billion. The US remains the leader in crypto revenue at over $9.4 billion.

Read more at Cointelegraph: Pakistan creates Digital Asset Authority to regulate crypto