Governor of Pakistan's Central Bank Announces Launch of Digital Currency Pilot

Odaily Planet Daily – According to Reuters, Pakistan’s central bank is preparing a digital currency pilot and finalizing regulations for virtual asset oversight. On July 9, Central Bank Governor Jameel Ahmad stated at the Reuters NEXT Asia Summit that the country is advancing the modernization of its financial system, strengthening central bank digital currency capabilities, and aims to launch the pilot as soon as possible. He discussed South Asian monetary policy challenges with the Governor of the Central Bank of Sri Lanka, noting that the new legislation will lay the foundation for licensing and regulating the virtual asset industry, and that the central bank has already engaged with some technology partners. He emphasized that this emerging sector presents both risks and opportunities, requiring careful risk assessment and the seizing of opportunities. On the same day, Pakistan’s Minister of State for Blockchain and Cryptocurrency Affairs stated that the government has approved the “2025 Virtual Asset Act,” which will establish an independent body to regulate the cryptocurrency industry.