Bilal Bin Saqib serves as Chairman of Pakistan Virtual Assets Regulatory Authority and Special Assistant to PM on Crypto (Minister rank since May 2025). Pakistan issued crypto exchange licenses in under 5 months versus 2 years elsewhere.
Who Is Bilal Bin Saqib?
Bilal Bin Saqib is an entrepreneur currently serving as Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) and CEO of the Pakistan Crypto Council. On May 26, 2025, Prime Minister Shehbaz Sharif appointed Bilal Bin Saqib as Special Assistant to the Prime Minister on Blockchain and Cryptocurrency, with the rank of Minister of State—making him Pakistan’s de facto “Crypto Minister.”
Bilal Bin Saqib first heard about cryptocurrency in 2014 but wasn’t immediately interested. It wasn’t until the coronavirus pandemic gripped the world in early 2020 that he took it as an opportunity to get ahead of the competition and learn as much as possible about the revolutionary technology known as Blockchain. This timing proved strategic, as pandemic lockdowns accelerated global digital transformation and cryptocurrency adoption.
An alumnus of the London School of Economics, Bilal Bin Saqib was recognized as Most Commendable Master’s Student of the Year during his studies in Social Innovation and Entrepreneurship. This academic foundation in social innovation would later shape his approach to crypto regulation—viewing digital assets not merely as financial instruments but as tools for economic inclusion and innovation.
Bilal Bin Saqib’s Recognition and Achievements
Member of the Order of the British Empire (MBE): Awarded for Covid-19 relief efforts
Forbes 30 Under 30: Recognized for entrepreneurship and innovation contributions
Points of Light Award: UK national recognition for community service
LSE Most Commendable Master’s Student: Academic excellence in Social Innovation
One Million Meals Campaign Co-Leader: Covid-19 frontline worker support initiative
During Covid-19 lockdowns, Bilal Bin Saqib co-led the One Million Meals campaign supporting frontline workers, earning national recognition in the UK including the Points of Light award and MBE. This demonstrated leadership capacity and social responsibility that would later inform his regulatory philosophy—balancing innovation with user protection.
Pakistan’s Swift Regulatory Reform Under Bilal Bin Saqib
Pakistan’s drive to regulate virtual assets is being hailed as one of the fastest reforms in global digital finance, positioning the country as a credible player in the evolving financial landscape. Bilal Bin Saqib explained during a London interview that Pakistan has taken decisive steps to introduce structure, oversight, and legitimacy to a sector that had long operated without formal rules despite widespread adoption.
“For years, this market existed without rules,” Bilal Bin Saqib said. “The real risk was in doing nothing. We are now building safeguards, systems, and institutions at speed.” This pragmatic approach contrasts with many jurisdictions that delayed crypto regulation for years while markets operated in legal gray zones, creating risks for consumers and limiting institutional participation.
Highlighting Pakistan’s progress, Bilal Bin Saqib noted that the country issued its first No Objection Certificates to crypto exchanges in under five months, compared to nearly two years in many other jurisdictions. “Speed matters,” he said. “Capital, talent, and platforms move quickly. Regulation must be capable of keeping up.”
This regulatory velocity represents strategic competitive advantage. By establishing clear frameworks quickly, Pakistan attracts crypto businesses seeking certainty while competitors remain mired in regulatory uncertainty. Bilal Bin Saqib’s background advising World Liberty Financial in London provided international perspective helping project Pakistan as forward-looking market rather than regulatory backwater.
Pakistan’s Regulatory Achievements
· First crypto exchange licenses issued in under 5 months
· Risk-based licensing approach balancing protection with innovation
· AI integration into regulatory processes for technological pace-matching
· International standards alignment on AML and consumer protection
Bilal Bin Saqib explained that PVARA is licensing exchanges through risk-based approach balancing user protection with responsible innovation. The authority integrates artificial intelligence into processes to ensure regulation keeps pace with technological change—a crucial capability as crypto evolves rapidly.
Global Confidence: CZ, Justin Sun, and International Engagement
Bilal Bin Saqib pointed to recent visits by international figures including Steve Witkoff, representatives of World Liberty Financial, Binance founder CZ, and TRON founder Justin Sun as evidence of growing global confidence in Pakistan’s digital finance reforms. “These engagements are not symbolic,” Bilal Bin Saqib said. “They show that Pakistan is being recognized as a jurisdiction that understands both the risks and the opportunities of digital assets.”
The visits from crypto industry titans represent significant validation. Changpeng Zhao, despite legal challenges in the US, traveling to Pakistan signals his assessment that the country offers viable business environment. Justin Sun, founder of TRON and controversial figure in global crypto, similarly engaging with Pakistani authorities suggests he views the jurisdiction as strategically important.
World Liberty Financial’s involvement is particularly notable given its connections to US political figures. Their representatives assessing Pakistan’s regulatory framework indicates potential for American institutional capital viewing Pakistan as investable market—a dramatic shift for a country historically seen as high-risk by Western investors.
Drawing on his experience advising World Liberty Financial in London, Bilal Bin Saqib noted that his international background has helped project Pakistan as forward-looking market. He emphasized that the country’s young, tech-savvy population and large user base made regulatory clarity a necessity. Pakistan already ranks among the largest crypto markets worldwide by user count, underscoring the urgency of establishing proper oversight.
Pro Bono Service and National Capacity Building
Bilal Bin Saqib stressed that his role at PVARA is pro bono, describing it as contribution to national capacity building. “Pakistan’s youth should not be confined to low-value roles in global digital economies. They must be empowered to innovate and create value from within Pakistan,” Bilal Bin Saqib said.
This pro bono service distinguishes Bilal Bin Saqib from typical government appointees seeking personal enrichment through public positions. By serving without compensation, he signals genuine commitment to national development rather than self-interest. This approach builds credibility both domestically and internationally, demonstrating that Pakistan’s crypto regulation is driven by vision rather than corruption.
The focus on youth empowerment reflects demographic reality: Pakistan has one of the youngest populations globally, with median age around 22 years. This massive youth cohort represents both challenge (unemployment, underemployment) and opportunity (tech-savvy, digitally native workforce). Bilal Bin Saqib’s vision involves channeling youth energy toward high-value digital economy participation rather than low-wage outsourcing roles.
“This is about future-proofing the country,” Bilal Bin Saqib said. “We are laying foundations, not chasing headlines.” This long-term institutional thinking contrasts with typical political short-termism focused on immediate media wins rather than sustainable infrastructure.
Challenges and Future Vision
When asked about political ambitions, Bilal Bin Saqib said his focus remains on building systems rather than seeking office. “I work on creating frameworks that outlast individuals,” he said. “Once institutions are functional, you move on and build the next one.” This institutional approach suggests Bilal Bin Saqib views PVARA as stepping stone toward broader systemic reforms rather than career endpoint.
He concluded by noting that Pakistan’s digital asset reforms are still in early stages but moving in the right direction. The country faces significant challenges including limited banking infrastructure for crypto on-ramps, brain drain as talented tech workers emigrate, political instability potentially disrupting regulatory continuity, and international skepticism about Pakistan’s governance capacity.
However, Bilal Bin Saqib’s track record of rapid execution and international recognition provides hope that Pakistan can overcome these obstacles. By establishing credible regulatory framework quickly, the country positions itself to capture value from global crypto industry seeking friendly jurisdictions amid regulatory crackdowns elsewhere.
FAQ
Who is Bilal Bin Saqib?
Bilal Bin Saqib serves as Chairman of Pakistan Virtual Assets Regulatory Authority (PVARA) and Special Assistant to Prime Minister on Blockchain and Cryptocurrency with Minister of State rank since May 2025. He’s an LSE alumnus, MBE recipient, and Forbes 30 Under 30 honoree.
When did Bilal Bin Saqib become Pakistan’s Crypto Minister?
Prime Minister Shehbaz Sharif appointed Bilal Bin Saqib as Special Assistant to the Prime Minister on Blockchain and Cryptocurrency on May 26, 2025, with Minister of State rank, effectively making him Pakistan’s first “Crypto Minister.”
How fast did Pakistan license crypto exchanges under Bilal Bin Saqib?
Under Bilal Bin Saqib’s leadership, Pakistan issued first crypto exchange licenses in under five months, compared to nearly two years in many other jurisdictions. This speed demonstrates Pakistan’s commitment to capturing crypto industry opportunities.
Does Bilal Bin Saqib get paid for his government role?
No, Bilal Bin Saqib serves as PVARA Chairman pro bono (without payment), describing it as contribution to national capacity building. This signals genuine commitment to Pakistan’s development rather than personal enrichment.
What international figures have visited Bilal Bin Saqib in Pakistan?
International visitors include Binance founder Changpeng Zhao (CZ), TRON founder Justin Sun, Steve Witkoff, and World Liberty Financial representatives. These visits signal growing global confidence in Pakistan’s digital finance reforms under Bilal Bin Saqib’s leadership.
What is Bilal Bin Saqib’s educational background?
Bilal Bin Saqib is a London School of Economics alumnus recognized as Most Commendable Master’s Student of the Year in Social Innovation and Entrepreneurship. This academic foundation shapes his approach to crypto regulation balancing innovation with social responsibility.
