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What happened?
Bilal Bin Saqib has been appointed as the Special Assistant to the Prime Minister of Pakistan on Blockchain and Crypto. This new role grants him the status of a minister of state and tasks him with drafting crypto regulations, launching mining projects, and integrating blockchain into government systems. His appointment is part of a larger push by Pakistan to enhance its digital infrastructure and economy.
Who does this affect?
The appointment of Bilal Bin Saqib affects several groups including the Pakistani government, local and international investors, and the global crypto market. It impacts the country’s burgeoning tech sector and its 40 million crypto users, while also appealing to foreign investors interested in Pakistan’s digital economy. Moreover, it influences Pakistan’s youth and tech freelancers who are poised to benefit from new opportunities in the blockchain and crypto space.
Why does this matter?
This development is significant for Pakistan’s market as it signals the country’s commitment to becoming a major player in the global crypto and blockchain arena. The allocation of 2,000 MW for crypto mining and AI centers aims to attract foreign investment and create high-skilled jobs, thereby boosting economic growth. With this strategic move, Pakistan positions itself alongside other nations that have prioritized crypto oversight at the governmental level, potentially influencing regional and global market dynamics.
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