Islamabad: The Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), Bilal Bin Saqib, convened an industry briefing today to engage with key stakeholders in the digital assets sector, emphasizing the need for investment in artificial intelligence, robotics, and blockchain technologies. This meeting marked a significant step in aligning Pakistan’s digital assets market with the broader economic objectives of the country.

According to Press Information Department, the Chairman highlighted the strategic importance of virtual assets as a crucial component of Pakistan’s economic infrastructure, citing the nation’s $38.3 billion in annual remittances and the millions of adults outside the formal financial system. He underlined PVARA’s role in creating a trustworthy market environment through legal certainty and robust regulatory frameworks.

The briefing also saw the announcement of a formal consultative group under PVARA, which aims to incorporate industry insights into the development of regulatory policies. This initiative signifies a shift towards collaborative policy-making, ensuring that regulatory measures are informed by market realities.

Participants at the briefing noted the rapid development of PVARA as an independent regulatory body, capable of overseeing the digital assets market within a short span of nine months. This development is seen as a foundation for the next phase of growth in Pakistan’s digital assets sector, supported by a credible regulatory framework and a proactive industry.