Pakistan Crypto Council Suggests Utilizing Surplus Energy for Bitcoin Mining
Quick Summary
Bilal Bin Saqib, CEO of Pakistan’s Crypto Council, has proposed leveraging the country’s surplus energy for Bitcoin mining. This proposal was presented during the council’s inaugural meeting, marking a significant shift from Pakistan’s previous anti-crypto stance.
Key Points
- Bilal Bin Saqib proposed using Pakistan’s excess energy for Bitcoin (BTC) mining at the Crypto Council’s first meeting on March 21, 2025.
- The council aims to establish comprehensive crypto regulations to attract foreign investment and position Pakistan as a global crypto hub.
- Attendees included lawmakers, the governor of the Bank of Pakistan, the chairman of Pakistan’s Securities and Exchange Commission (SECP), and the federal IT secretary.
- Senator Muhammad Aurangzeb emphasized the importance of creating a transparent, future-ready financial ecosystem.
- This initiative contrasts sharply with the government’s previous stance, which cited anti-money laundering concerns under FATF guidelines as reasons for opposing crypto legalization.
Pakistan’s Shift Towards Crypto-Friendly Policies
Pakistan’s government began embracing cryptocurrencies officially on November 4, 2024, coinciding with the U.S. elections. This move aligns with global trends, notably following the United States’ recent pro-crypto policies under President Donald Trump.
President Trump signed executive orders establishing a Working Group on Digital Assets, prohibiting the development of a central bank digital currency (CBDC), and creating a strategic Bitcoin reserve in early 2025.
The Pakistan Crypto Council’s proposal to utilize surplus energy for Bitcoin mining reflects a broader global shift towards crypto-friendly policies and highlights the potential economic benefits of embracing digital assets.
