Binance CEO Visit & Pakistan Crypto Regulation Update
• High-Level Meeting:
Binance CEO Richard Teng and his senior leadership visited Islamabad. This meeting included PM Shehbaz Sharif, Army Chief Asim Munir, Finance Minister Muhammad Aurangzeb, and top officials from the State Bank.
• Main Agenda:
The focus of the meeting was to regulate crypto and digital markets in Pakistan. There was a detailed discussion on money laundering (AML) and terror financing (CFT) compliance.
• Remittance & Blockchain:
Pakistan receives an annual remittance of $38 Billion. The plan is to significantly reduce the cost of sending remittances using blockchain.
• Legal Status & White Money:
The government is working on bringing crypto trading into a proper legal framework so that crypto income can be counted as White Money and a proper tax system can be applied to users.
• Tokenization:
Similar to Dubai, discussions were held on the tokenization of assets in Pakistan — such as real estate — to allow foreign investors to easily invest in Pakistan.
• PiVARA Update:
Bilal Bin Saqib has been appointed as the Chairman of PiVARA (Pakistan Virtual Asset Regulatory Authority). He has resigned from his second position (PCC) to focus entirely on regulation.
• Timeline:
It is hoped that by 2026, a clear framework for crypto regulations and positive updates will officially emerge in Pakistan.
• Global News:
Binance has now become the first exchange to receive a full license from Abu Dhabi Global Markets, which will increase trust among institutional investors.
Conclusion:
Discussions between the Pakistan government and Binance are progressing positively. Progress towards legalization is fast, but proper, clear regulations are expected by 2026.
#BinanceCEO #BinanceLegalNews #USJobsData #WriteToEarnUpgrade
