Pakistan establishes digital assets authority to regulate crypto and block chain
In a landmark move to regulate the digital finance sector, Pakistan has officially established the Pakistan Digital Assets Authority (PDAA). Announced by the Ministry of Finance, the PDAA is tasked with overseeing and regulating block chain-based financial infrastructure, including cryptocurrencies, tokenized assets, and decentralized finance (DeFi) platforms. This initiative aims to provide a comprehensive, FATF-compliant framework that ensures economic inclusion, fosters innovation, and safeguards consumer interests in the rapidly evolving digital asset landscape.
The PDAA will function as an independent regulatory body with broad oversight responsibilities, including licensing, compliance monitoring, and risk assessment for entities such as digital asset exchanges, wallet providers, stable coin issuers, and crypto mining operations. By bringing transparency and accountability to Pakistan’s estimated $25 billion informal crypto market, the authority seeks to attract both local and international investment. Finance Minister Muhammad Aurangzeb emphasized that this move positions Pakistan at the forefront of financial innovation, aligning the country with global leaders in digital finance regulation.
