Pakistanis are estimated to have invested $20-30 billion in asset-backed crypto instruments, experts told the Sustainable Development Policy Institute (SDPI) Conference on Friday.
They projected that crypto trading by Pakistanis could reach $300 billion — a figure approaching the country’s approximately $400 billion in GDP. The experts stressed these figures are indicative only, given the absence of a legal framework to regulate or document crypto activity, which leaves the true scale unverified.
They warned Pakistan risks forfeiting $25 billion in economic opportunities if it delays regulating cryptocurrencies and virtual assets, urging a swift but cautious approach to avoid falling behind in global adoption.
They cautioned that weak regulations and cybersecurity risks could hinder progress. Both local and international experts at the conference urged the government to adopt a cautious, phased approach toward legalising cryptocurrency. Experts also recommended that Pakistan introduce a Central Bank Digital Currency (CBDC) as a first step, saying it could significantly reduce the costs associated with remittances from overseas.
Pakistan Banks Association (PBA) President Zafar Masud noted that the country had the potential to tap $20-25 billion in crypto-related opportunities but stressed the need for proper alignment and regulatory safeguards. He emphasised prioritising consumer protection and suggested that Pakistan introduce stablecoins in the initial phase.
