Pakistan Lifts Crypto Banking Ban After Eight Years, Says Minister

Pakistan’s Minister of State for Blockchain and Crypto, Bilal Bin Saqib, has announced that the State Bank of Pakistan has lifted its long-standing restriction on crypto-related banking activities.

In a statement, the minister said that Pakistani banks can now open accounts for licensed cryptocurrency companies, a move expected to facilitate regulated and legal activity in the country’s digital assets sector.

He added that the decision effectively ends an eight-year ban on crypto banking, potentially paving the way for broader adoption of blockchain-based financial services and increased investment in the sector.

The development marks a significant shift in Pakistan’s financial policy, signaling a more open approach toward emerging financial technologies while aiming to bring crypto-related transactions under a formal regulatory framework.