Pakistan to Store Seized Crypto Assets in National Bitcoin Wallet: Bilal Bin Saqib

Islamabad: Special Assistant to the Prime Minister on Crypto and Blockchain, Bilal Bin Saqib, has stated that no public funds are being used for acquiring crypto or Bitcoin reserves. Instead, certain crypto assets seized by law enforcement agencies will be stored and utilized via a National Bitcoin Wallet.
He highlighted that the Pakistan Crypto Council (PCC) is actively working on a comprehensive regulatory framework for cryptocurrencies and blockchain technology. The initiative aims to open new economic avenues and empower the country’s youth through digital innovation.
Bin Saqib emphasized that the purpose behind embracing blockchain is not merely to follow global trends but to strategically position Pakistan in the emerging digital economy. “A well-regulated crypto ecosystem can positively impact our economy,” he noted.
Responding to a question, he refuted the myth that cryptocurrencies are mainly used for money laundering, pointing out that crypto is fully traceable, unlike cash which is more commonly misused for illicit financial activities.
Drawing attention to international models, Bin Saqib cited countries such as the United States, UAE, and Singapore, which have introduced legislation and national strategies for crypto and blockchain. He stated that Pakistan is not adopting the technology for its own sake, but for its significant economic potential.
He revealed that Pakistan plans to establish AI data centers and digital infrastructure to support crypto mining operations using surplus electricity. The revenue generated through these activities will be funneled into the national treasury, with all measures falling under a regulatory framework aligned with FATF guidelines.
Moreover, he clarified that taxpayers’ money is not being spent on crypto acquisitions. The government is also exploring public-private partnerships and intends to attract donations from supporters of the national cause to bolster crypto initiatives.
Finally, Bin Saqib disclosed that six countries have reached out to Pakistan, inspired by its rapid progress, seeking technical assistance in crypto and blockchain development. “Pakistan must seize this momentum to emerge as a global leader in crypto, blockchain, and digital innovation,” he concluded.