Pakistan is making moves to become a major player in the world of cryptocurrency. The country is planning to create a legal framework for crypto in order to attract international investors and position itself as a leader in blockchain-powered finance. This news comes as no surprise, as Pakistan has been steadily climbing the ranks in terms of crypto adoption, with an estimated 20 million Pakistani crypto users.

Bilal Bin Saqib, CEO of the Pakistan Crypto Council, spoke to Bloomberg about the country’s plans, stating that they are “done sitting on the sidelines” and are now focused on creating regulatory clarity and a pro-business legal framework. Saqib also emphasized the country’s young and tech-savvy population, with 60% of its citizens under the age of 30, making it an ideal environment for blockchain and crypto development.

In fact, Saqib was recently appointed as chief adviser to Pakistan’s finance minister for the management of cryptocurrencies, further solidifying the country’s commitment to this emerging industry. He believes that developing nations like Pakistan and Nigeria have a lot to gain from embracing blockchain and crypto, as it can reduce reliance on traditional banking and create more efficient cross-border payment networks.

This move by Pakistan is also in line with the global trend of countries recognizing the potential of crypto and blockchain technology. In fact, according to blockchain analytics firm Chainalysis, Pakistan was ranked ninth for crypto adoption last year. This shows that the country is not only keeping up with the rest of the world, but also positioning itself as a leader in this rapidly growing industry.

Saqib also pointed out the impact of US President Donald Trump’s recent moves towards creating a national crypto reserve and stockpile. He believes that this will make crypto a national priority for many countries, including Pakistan, and those who do not follow suit may risk being left behind.

With Saqib at the helm of the Pakistan Crypto Council, the country is open for business and ready to embrace the opportunities that come with blockchain and crypto adoption. As the world continues to evolve and adapt to this new technology, it will be interesting to see how Pakistan’s legal framework for crypto will shape its future in the global market.