Pakistan's Virtual Assets Regulatory Authority (PVARA) chairman Bilal Bin Saqib told Consensus Hong Kong 2026 that crypto is a ladder for the masses, not a luxury. Around 40 million citizens are already trading digital assets with zero rules, zero protection, and zero benefit flowing back to the state. “The market existed, but the regulations didn't. So essentially, we tried to move from a gray market into a governed market,��� Bin Saqib said via virtual link.
Third-Largest Crypto Retail Market Globally
Pakistan boasts the third largest crypto market by retail activity, ahead of Germany and Japan. The country's demographic profile drives this: some 70% of its 250 million population are under 30. “We are one of the most tech savvy youth populations on the planet,” Bin Saqib said. With over 100 million unbanked citizens lacking saving and investment tools, crypto becomes an essential tool for economic mobility. “Crypto and blockchain are not a luxury for Pakistan. It's a ladder for the masses.”
Bitcoin Strategic Reserve and National Mining Plans
Last year at Bitcoin Las Vegas, Bin Saqib announced plans for a strategic Bitcoin reserve and mining support. He stressed that “when you are dealing with something as strategic as the Bitcoin reserve or the national energy allocation, speed without structure can be dangerous.” The first step: identifying digital assets held by the state and moving them into a formal state-controlled custody framework, establishing transparency, accountability and standards. “It's not about speculation; it's about treating digital assets as sovereign wealth.”
Mining: Surplus Electricity Meets AI Compute
On the mining side, Pakistan has identified sites with surplus electricity and is assessing economics and environmental impacts. It is engaging with global miners and AI compute operators. Bin Saqib described it as a “responsible partnership model,” part of a broader strategy around energy optimization, compute capacity and national digital infrastructure. “Bitcoin mining and AI data centers are the two mechanisms for converting unused energy into productive capacity for our country.”
Before PVARA's creation, Pakistan's crypto market operated entirely in the gray zone—no taxes, no consumer protection. The new framework aims to bring this massive market into compliance, protecting investors while generating state revenue. Global interest is rising, particularly from institutional investors and miners attracted by cheap electricity and a young labor force.