In a bid to fast-track the adoption and regulation of digital assets, the federal government established the Pakistan Virtual Assets Regulatory Authority (PVARA) in May 2025. According to reports, Pakistan’s efforts to position itself as a key player in the global digital asset space have pushed several countries to emulate its progress on cryptocurrency regulation.

 

Reports suggest that a day after the formation of PVARA, parliamentarians in Israel gathered to hold an informal discussion surrounding bitcoin. This discussion is reportedly the first of its kind in Israel. However, it merits a mention that this session held by Israeli parliamentarians did not witness the passing of any policy proposal.

 

As per reports, India has also begun to reconsider its hardline stance against virtual assets as the digital commerce sector has pushed for policy reforms. Pakistan gaining a digital edge on the aforementioned regional powers has led to both of them holding discussions on cryptocurrencies.

 

Pakistan itself has radically changed its stance on virtual assets in just two years, as two years ago, Pakistan reportedly declared that cryptocurrencies would never be legalised. Since then, Pakistan Crypto Council (PCC), PVARA, and a national crypto strategic reserve have been formed. This has catapulted Pakistan to the front of the digital asset race.

 

The timing of Pakistan’s crypto developments are optimal too as the global economic hegemon the United States (US) has been moving towards federal legislation on digital assets. Moreover, reports indicate countries such as Argentina and Nigeria have been looking into integrating crypto currencies into their economies.

 

Reports reveal that Argentina has been looking into integrating crypto wallets and stablecoins into its economic framework. As per reports, Nigeria has also adopted regulatory sandboxes to boost developments in fintech.

 

The aforementioned developments caused the price of Bitcoin, the largest cryptocurrency by market capitalisation, to surge past the $122,500 resistance level earlier this month. As of publishing, the price of bitcoin sits close to $118,500.

 

Pakistan could benefit greatly from these developments as the Pakistan Crypto Council recently announced the formation of the country’s first-ever government-led Strategic Bitcoin Reserve.

 

In his keynote speech at Bitcoin Vegas 2025 in Las Vegas, United States, PCC's Chief Executive Officer Bilal Bin Saqib outlined the intentions behind creating a crypto wallet, highlighting how holding digital assets by the state was “not for sale or speculation, but as a sovereign reserve signalling long-term belief in decentralised finance.”