Pakistan’s rapidly expanding cryptocurrency market needs a unified industry association to address investor concerns, improve coordination and strengthen engagement with international digital asset platforms, according to industry representatives.
In a statement, Ms Asif said the country’s growing cryptocurrency sector faced major challenges due to the absence of verified investor data and an organised platform to represent industry stakeholders, particularly during major cybersecurity or financial incidents involving international exchanges.
She noted that Pakistan ranked third in the 2025 Global Crypto Adoption Index compiled by Chainalysis. Estimates indicating approximately 40 million crypto-linked accounts and digital asset exposure ranging from $10 billion to $20 billion suggested the potential scale of the market. However, she clarified that these figures had not been officially verified as representing individual investors.
Referring to a cybersecurity incident involving Binance, Ms Asif warned that security breaches at major cryptocurrency exchanges could lead to financial losses, unauthorised transactions and withdrawal disruptions, potentially weakening investor confidence.
She said the possible impact of the incident on Pakistani investors remained unclear and required independent verification.
“The question is who will represent and protect Pakistani investors if an international exchange faces a major cybersecurity or financial crisis,” she said.
Ms Asif added that Pakistan currently lacked an established mechanism to coordinate investor complaints and communicate with international exchanges in such circumstances.
Welcoming the government’s regulatory initiatives through the Pakistan Virtual Assets Regulatory Authority (PVARA), she said the regulator and an independent industry association could perform complementary functions.
While PVARA would oversee regulatory matters within its legal mandate, a representative industry body could provide a common platform for fintech companies, blockchain businesses, technology professionals and investors to raise concerns and engage with policymakers.
She also called for the establishment of a national digital finance platform supported by reliable market research, coordinated investor grievance mechanisms, cybersecurity awareness initiatives and formal partnerships with international industry organisations.
According to Ms Asif, Pakistan’s digital finance potential extends beyond cryptocurrency trading to include blockchain applications, digital payments, fintech entrepreneurship and international investment.
She said a coordinated industry framework could help address existing challenges, strengthen investor protection and support the development of the country’s broader digital finance ecosystem.
