FORMER SEC CHAIR GENSLER said Bitcoin is different from | Umair Nauman on Binance Square

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FORMER SEC CHAIR GENSLER said Bitcoin is different from other crypto

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🇵🇰 The Finance Division held a major meeting on Pakistan’s National Digital Asset Framework, led by Finance Minister Senator Muhammad Aurangzeb and PVARA Chairman Bilal Bin Saqib. Senior leaders from the State Bank, top Pakistani banks, and Binance CEO @Richard Teng joined the discussion. They talked about Pakistan’s next steps for a safe, transparent, and innovation-driven digital asset ecosystem, including: 🔹Responsible on/off-ramp development 🔹Stronger compliance and AML/CFT rules 🔹More transparency in digital markets Better integration with regulated banks Minister Aurangzeb said Pakistan is committed to forward-looking regulations that protect the country while supporting tech progress. He highlighted the need for strong coordination between government, banks, and global exchanges. The Binance team shared global insights and Pakistan’s rising role in digital assets, including: Formalizing citizen-held crypto for financial clarity Using blockchain to lower costs from Pakistan’s USD 38B remittance flows Building Web3 talent and jobs for youth Exploring sovereign debt tokenization for liquidity They also discussed practical taxation, compliance, phased capital gains, and possible time-bound amnesty to shift users to regulated platforms. Work is moving forward on a licensing regime for Virtual Asset Service Providers to meet global standards and protect users. Bank presidents shared views on custody, risk, and collaboration as Pakistan prepares for a regulated digital asset environment. In closing, Chairman Bilal Bin Saqib highlighted Pakistan’s chance to shape global digital finance, calling digital assets key financial infrastructure that can boost inclusion, create banking opportunities, and drive national progress. He reaffirmed PVARA’s Pakistan-first, collaborative, and innovation-driven approach. #Pakistan #CryptoPakistan

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