Pakistan may be moving closer to formally allowing cryptocurrency trading through exchange companies.
Fresh developments have emerged after high-level meetings between industry representatives and government officials.
The move could bring billions of dollars into the country’s economy.
A delegation of the Exchange Companies Association of Pakistan (ECAP) held important meetings in Islamabad, marking a significant development in the country’s crypto landscape.
The delegation met with Minister of State for Finance Bilal Azhar Kayani and Head of the Crypto Council Bilal Bin Saqib.
The ECAP team was led by Chairman Malik Bostan and Secretary General Zafar Paracha.
Exchange companies eye crypto business
Following these discussions, exchange companies and money changers are likely to be allowed to enter the cryptocurrency business.
Industry representatives have proposed that exchange companies should be permitted to open a dedicated “crypto window” within their existing operations.
This would enable regulated and formal crypto trading under the current financial system.
Millions already trading crypto
According to ECAP Secretary General Zafar Paracha, between 25 to 30 million people in Pakistan are already trading cryptocurrencies—largely through informal or unregulated channels.
He noted that the country’s crypto market volume has crossed $20 billion, highlighting the scale of existing activity despite regulatory uncertainty.
Potential economic impact
Paracha stated that exchange companies currently bring in around $12 billion in foreign exchange annually.
If cryptocurrency trading is officially allowed, this figure could potentially double to $24 billion per year, significantly boosting Pakistan’s inflows.
The proposal is being seen as an opportunity to formalize the sector and capture untapped economic potential.
ECAP Chairman Malik Bostan said that Crypto Council head Bilal bin Saqib has assured full cooperation in facilitating the process.
The discussions indicate growing coordination between regulators, policymakers, and industry stakeholders on the future of digital assets in Pakistan.
