Pakistan’s Crypto Council CEO Advocates Bitcoin Mining Powered by Runoff Energy

Bilal Bin Saqib, CEO of Pakistan’s Crypto Council, has proposed utilizing the country’s runoff energy to power Bitcoin mining operations, presenting the idea during the Council’s inaugural meeting held on March 21.

The newly formed Crypto Council is working to develop a comprehensive regulatory framework for cryptocurrencies, aiming to attract foreign direct investment and position Pakistan as a leading crypto innovation hub, according to a report from The Nation.

Top Pakistani Officials Join Crypto Council Meeting to Shape National Blockchain Strategy

The meeting drew participation from key figures, including lawmakers, the Governor of the Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Federal IT Secretary.

“This is the beginning of a new digital chapter for our economy,” Senator Muhammad Aurangzeb, speaking at the event, said.

“We are committed to building a transparent, future-ready financial ecosystem that attracts investment, empowers our youth, and puts Pakistan on the global map as a leader in emerging technologies.”

The formation of the Crypto Council signals a notable policy shift.

In May 2023, former Minister of State for Finance and Revenue Aisha Ghaus Pasha publicly declared that cryptocurrencies would never be legalized in Pakistan, citing anti-money laundering concerns and FATF compliance as primary obstacles.

However, the government’s stance has changed significantly. On November 4, 2024—coinciding with the U.S. presidential elections—Pakistan moved to regulate cryptocurrencies as legal tender.

Advocating for decentralization while suited up in something highly centralized.

Key figures on 🇵🇰

• 60% of its 240M population is under 30.
• $20B+ in crypto transactions in 2021, ranking third on the adoption index.
• $30B+ in annual remittances.

Pakistan is BULLISH on… pic.twitter.com/Ovx0DmbAsZ

— Bilal bin Saqib MBE (@Bilalbinsaqib) March 13, 2025

The shift came in the wake of Donald Trump’s re-election and his administration’s swift embrace of pro-crypto policies.

On January 23, 2025, President Trump signed an executive order establishing the Working Group on Digital Assets, while also banning federal efforts to explore or implement a central bank digital currency (CBDC).

In March, he followed up with a directive to create a Bitcoin strategic reserve and a broader digital asset stockpile, focused on tokens developed by U.S. firms.

Pakistan Signals Policy Shift with Plans for National Crypto Council

Pakistan’s Finance Ministry is taking steps toward formal cryptocurrency regulation, a move that could mark a significant change in the country’s historically cautious stance on digital assets.

In a meeting last month with an international delegation focused on crypto investment and blockchain development, Aurangzeb emphasized the importance of exploring the sector’s potential rather than dismissing it outright.

The delegation included notable figures such as Gentry Beach Jr., a key investor who has pledged $1 billion in funding to Pakistan, along with tech entrepreneur Nikita Goldsmith, blockchain consultant Alex Malkov, and Cosmic Wire CEO Jerad Finck.

The proposed National Crypto Council would function as a government advisory body, bringing together regulators, policymakers, and industry stakeholders to guide the development of cryptocurrency and blockchain regulations.

This marks a clear shift from previous government positions. Until recently, both the State Bank of Pakistan and former finance officials firmly opposed cryptocurrency adoption, citing financial risks and regulatory uncertainty.

Public statements repeatedly warned against the use of digital currencies, and legalization appeared off the table.