Pakistan has launched the Pakistan Crypto Council to oversee blockchain and digital asset integration into its financial system
Pakistan Establishes ‘Crypto Council’
to Regulate Blockchain and Digital Assets
Pakistan has launched the Pakistan Crypto Council (PCC) to oversee blockchain and digital asset integration into its financial system. Announced by the Finance Division, the initiative aims to regulate, foster, and incorporate crypto innovations into the economy, marking a shift from the country’s previous stance that opposed legalization due to security concerns.
Finance Minister Muhammad Aurangzeb will lead the council, supported by key financial and regulatory officials. Bilal bin Saqib, appointed as Chief Advisor and CEO, emphasized the PCC’s role in ensuring financial security, mitigating risks, and fostering a competitive digital economy. The council will establish clear crypto regulations, collaborate with global blockchain organizations, and promote responsible innovation.
With over 20 million crypto users and $20 billion in transactions, Pakistan ranks among the top crypto adopters. Its $35 billion remittance market also stands to benefit from expanded crypto use.
VanEck Files for Avalanche (AVAX) ETF with SEC
VanEck has filed an S-1 registration with the SEC for an Avalanche ETF, offering direct exposure to AVAX and pricing based on the MarketVector Avalanche Benchmark Rate. The filing follows its Delaware registration, signaling expansion into altcoin investment products.
As interest in altcoin ETFs grows beyond Bitcoin and Ethereum, Bloomberg analysts estimate a 90% approval chance for Litecoin, with XRP and Solana facing lower odds. Avalanche’s track record, including use in Franklin Templeton’s tokenized fund, could support its case.
While the SEC remains cautious on crypto ETFs, shifting regulations under the Trump administration and the formation of a Crypto Task Force suggest a more open stance. If approved, VanEck’s ETF could pave the way for more blockchain-based investment products in traditional finance.