A press release issued by the Ministry of Finance and Revenue Division confirmed the appointment of Bilal bin Saqib. The appointment indicates the Pakistan’s commitment to fostering technological advancement in the finance sector, read the press release.

Earlier on February 25, in an announcement, the finance ministry stated that it was considering “establishing a National Crypto Council” to embrace emerging digital currencies in line with international rising trends. In this regard, Finance Minister Muhammad Aurangzeb held a meeting on digital assets with a foreign delegation including President Trump’s advisers for digital assets.

According to Forbes, Saqib — who is part of their ‘30 under 30’ list — is the cofounder of Tayaba, which the publication describes as “a social enterprise that aims to provide solutions to the water crisis in Pakistan”.

“In this pivotal role as the chief adviser to the finance minister on the Pakistan Crypto Council, Saqib will lend his great knowledge and experience to Pakistan’s efforts to integrate cryptocurrency and blockchain technologies into its financial ecosystem while ensuring the development of a robust regulatory framework for digital assets in alignment with global best practices,” read the press release.

“We are confident that his leadership will guide the development of a sound and effective regulatory framework, fostering innovation and sustainable growth in Pakistan’s crypto sector,” Finance czar Aurangzeb said.

Commenting on his appointment, Saqib said “Cryptocurrency and blockchain technology hold immense potential for Pakistan, particularly for the youth, who are the driving force behind our nation’s digital.