Pakistan took several key steps toward cryptocurrency adoption in 2025, with the latest move in December by a new regulator granting preliminary clearances to global exchanges Binance and HTX. The development has raised concerns about potential oversight gaps posing financial and regulatory risks. Officials and experts warn Islamabad about hastily licensing Binance and HTX, arguing that the rapid approach could undermine investor protections. While the government contends the policy could attract foreign investment, critics say it could heighten systemic risk.
Pakistan believes it has found a path to make government and other assets more accessible to global investors, thereby improving liquidity, but critics caution that the plan may expose the economy to crypto-related volatility and regulatory challenges. Pakistan’s move toward cryptocurrency adoption in 2025 included the December clearance of preliminary approvals for global exchanges Binance and HTX by a new regulator. This step has sparked concerns about oversight gaps that could pose financial and regulatory risks for the economy. Officials and analysts warn that licensing these platforms too quickly may undermine investor protections.
Proponents argue that the policy could attract foreign investment and improve liquidity by making government and other assets more accessible to global investors. Critics, however, caution that a rapid approach could heighten systemic risk and expose the economy to crypto-related volatility and regulatory challenges. Pakistan maintains that this path aims to boost liquidity, but observers stress the need for robust safeguards and ongoing oversight. In a broader context, the government’s strategy has already included naming the controversial Binance founder as a crypto adviser, underscoring the tension between accelerating adoption and maintaining regulatory discipline.
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