Pakistani envoy seeks US partnership on crypto, blockchain

WEB DESK: Pakistan’s Ambassador to the United States, Rizwan Saeed Sheikh, held a meeting with Patrick Witt, Executive Director for Digital Assets, to discuss cooperation in the emerging fields of digital finance, blockchain and the new economy.

During the meeting, the ambassador praised former US president Donald Trump’s role in providing leadership on the new economy, digital finance and blockchain-related initiatives. He said Pakistan recognises the growing global importance of digital assets and is keen to align itself with international best practices.

Rizwan Saeed Sheikh highlighted the progress Pakistan has made in the promotion and regulation of digital assets and cryptocurrencies. He described the establishment of the Pakistan Crypto Council and the promulgation of the Virtual Assets Ordinance 2025 as major milestones in this direction.

He also noted that the Pakistan Virtual Assets Regulatory Authority has been formed and that the State Bank of Pakistan has implemented a new policy framework to oversee the sector. According to the ambassador, these steps have introduced an institutional framework for millions of Pakistani users who hold or trade digital assets.

Emphasising future priorities, the envoy said Pakistan is interested in developing partnerships with the United States in the fields of digital assets and cryptocurrency. He added that the path to a new economy lies in cooperation, collaboration and policy alignment between countries.