ChainCatcher news reports that Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib stated that cryptocurrencies and blockchain are not a luxury for Pakistan but a ladder for the masses. Bin Saqib revealed at the Consensus Conference in Hong Kong that Pakistan has the third-largest retail crypto market in the world, surpassing Germany and Japan. Approximately 40 million citizens in Pakistan have traded digital assets without regulation, out of a population of 250 million, with 70% under 30 years old, and over 100 million citizens without bank accounts, lacking savings and investment tools.
Regarding the Bitcoin strategic reserve plan announced last year, Bin Saqib said the country is integrating its digital assets into an official national custody framework, has identified remaining power plant sites for mining, and is assessing economic impacts. The country is engaging with global miners and AI computing operators to turn Bitcoin mining and AI data centers into mechanisms for converting unused energy into national productivity.
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