Pakistan’s Bitcoin move historic but risky without regulation: Nighat Dad

#Pakistans #Bitcoin #move #historic #risky #regulation #Nighat #Dad

At the Bitcoin Vegas 2025 summit, Pakistan unveiled its first government -backed Strategic BitCoin Reserve, an important step that indicates a change in an important policy in its stance on digital finance.

In a move announced by the Minister for Crypto and Blockchain Bilal Bin Suqib, Bitcoin has been positioned as an independent asset of gold or oil, which aims to act as a financial stabilizer rather than a speculation or trade device.

This development comes between the growing domestic involvement in digital currencies. Pakistan currently has 20 million people associated with cryptocurrency, which is an unorganized place where the government does not currently receive tax revenue.

The government also announced the allocation of 2000 MW of electricity to assist Bitcoin infrastructure, which has identified an important commitment to the sector.

Despite the excitement around this digital axis, the move has also raised critical questions.

In a special class of Geo News’ Morning Show “Geo -Pakistan”, the executive director of the Digital Rights Foundation, Nagat Ded, said that the term “Strategic Butt Coin Reserve”.

“Strategic reserves are assets that countries have to buffer themselves during the crisis,” he said. “Although many countries have gold or oil, choosing Pakistan BitCoin would be a modern still experimental policy. Globally, only El Salvador has adopted such a view by legalizing Bitcoin in 2021 and adding to its national reserves.”

The father warned that this bold move keeps Pakistan in an unmanned area, especially watching its ongoing talks with international lenders like the International Monetary Fund (IMF) and the World Bank.

He added, “Such measures raise concerns for global financial institutions. So when it can be a historic opportunity, it is equally dangerous. Strong rule and transparency are essential, as is creating trust with international financial institutions.”

According to the 2021 Global Index, Pakistan’s crypto user, Ada, is ranked 10th in the world. The digital expert emphasized that freelancers and Pakistanis abroad are already benefiting from digital currencies. However, the lack of regulatory explanation has forced many users to the unsafe, unregistered platform, which causes them to be fraudulent.

The head of the Digital Rights Foundation said, “If the government brings crypto to regulatory folds and connects it to the banking system, it will enable freelancers to work within the legal economy. This will not only merge Pakistanis into the global financial system but also create a new tax.” “But these benefits are possible only when the legal and regular framework is public friendly and timely.”

‘The state should act as a regulator, not investor’

Among the growing interest in crypto space, some critics say the state should refrain from direct investment and instead allow the private sector to lead.

On this, the father offered a firm stance: “There is a global ideology-countries like the United States and the UK organize crypto but do not invest in it. The reason is easy: governments who face both investment and regular interest.

He further warned that if the public money was in the crypto and the market crash, the political and economic results could be severe. “The state should act as a regulator and educator, not an investor. Transparency should be founded,” he said.

When asked if the young generation of Pakistan should engage with this digital economy, the father was hopeful but cautious.

He added, “Crypto and blockchain are not just about investment – they represent a new economic front. They are enabling new forms of employment and digital financial freedom. But it starts with digital literacy. People should learn what the NFT is, and know what to understand.”