Minister Bilal Bin Saqib Positions Pakistan as a Digital Asset Powerhouse
Pakistan’s Minister of State for Crypto and Blockchain, Bilal Bin Saqib, held a high-profile meeting at the White House with Robert “Bo” Hines, Executive Director of former President Donald Trump’s Council on Digital Assets, to unveil Pakistan’s Strategic Bitcoin Reserve and promote digital infrastructure cooperation.
“It is my mission to position Pakistan as a global leader in digital assets,” Saqib stated following the meeting.
The visit marked a significant diplomatic engagement focused on cross-border cooperation in digital assets, the future of decentralized finance (DeFi), and Pakistan’s emerging role in the Bitcoin economy.
Strategic Bitcoin Reserve and Mining Plans Unveiled
A central topic of discussion was the announcement of Pakistan’s Strategic Bitcoin Reserve, part of a larger national plan to modernize the country’s economy through digital assets. The initiative includes:
- Allocating 2,000 megawatts of surplus power to Bitcoin mining and AI data zones.
- Establishing a framework to convert underused energy into economic productivity.
- Encouraging job creation, tech development, and AI-driven digital infrastructure.
“From launching our Strategic Bitcoin Reserve to unlocking infrastructure for crypto mining, Pakistan is building a real framework for economic modernization,” Saqib noted.
White House Legal Consultations and Regulatory Developments
Beyond discussions with the Council on Digital Assets, Saqib also met with White House Counsel’s Office officials to discuss blockchain governance frameworks and the legal architecture required for sustainable crypto adoption.
In parallel, Pakistan is building domestic regulatory clarity. On May 21, the Ministry of Finance approved the creation of the Pakistan Digital Assets Authority (PDAA), a specialized body to:
- License and regulate crypto exchanges, custodians, wallets, and DeFi platforms.
- Supervise tokenized financial infrastructure and stablecoins.
- Serve as a regulatory hub for the country’s evolving blockchain ecosystem.
IMF Raises Concerns Over Bitcoin Energy Allocation
Despite the bold vision, Pakistan’s plan has drawn scrutiny from international stakeholders. On May 31, the International Monetary Fund (IMF) raised concerns over the energy-intensive mining initiative, especially during an economic support program review.
The IMF has requested clarification on the legality of the 2,000MW allocation and its impact on Pakistan’s power grid and fiscal policy, as the country grapples with chronic energy shortages and economic constraints.
Outlook
The high-level U.S.-Pakistan crypto dialogue signals Pakistan’s intent to join the global digital economy. While the Strategic Bitcoin Reserve sets a precedent in emerging markets, regulatory clarity and global coordination will be critical to its success — especially under the scrutiny of institutions like the IMF.