Pakistan’s Crypto Council’s Legal Status Questioned — Is a Crypto Ban on the Horizon?
The legal standing of the Pakistan Crypto Council has come under intense scrutiny during a recent session of the Senate Standing Committee on Information Technology and Telecommunication. Multiple committee members voiced strong concerns regarding the legitimacy and authority of the council, questioning whether it was established through proper legislative procedures.
Senator Kamran Murtaza raised pointed questions about the council’s legal foundation, asking whether the Parliament was taken into confidence before its formation. “Can any council be formed through an executive order without a legal mandate?” he asked, emphasizing that every such body must have statutory backing.
Senator Humayun Mohmand echoed these concerns, while Senator Afnan Ullah criticized the government for disregarding a crypto regulation bill he had personally drafted after three months of effort. “The government scrapped my bill and introduced a council instead,” he said.
In response, the Secretary of IT clarified that the Pakistan Crypto Council functions purely as an advisory body and was formed through an executive order. He confirmed that the Federal Finance Minister chairs the council, while he himself serves as a member.
However, the committee remained skeptical. Several senators questioned whether such a council can operate without formal legislation, especially when the digital asset sector involves serious economic and legal implications.
The debate raises fresh doubts about the future of cryptocurrency regulation in Pakistan. While the government appears to be moving toward some form of oversight, the lack of transparency and legal clarity surrounding the council may reignite fears of an impending crypto ban.
As pressure mounts, all eyes are now on the federal government’s next steps in defining Pakistan’s stance on digital currencies.
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