Pakistan has appointed Changpeng “CZ” Zhao, the former CEO of Binance, as an official adviser to its newly established Pakistan Crypto Council (PCC) — a move signaling the country’s accelerating push into digital asset regulation and blockchain adoption.

The appointment was confirmed by Pakistan’s Ministry of Finance and reported by Bloomberg on April 7. Zhao will serve in an advisory capacity, offering strategic input on cryptocurrency regulation, blockchain infrastructure, and adoption frameworks for the South Asian nation.

A Strategic Move Amid Growing Adoption

The Pakistan Crypto Council, launched in March 2025, is tasked with developing policies to support the integration of blockchain technologies and digital assets into the national economy. Bilal bin Saqib, CEO of the PCC, previously stated that the Council aims to position Pakistan as a Web3-friendly market, citing the country’s youthful, tech-savvy population and relatively low operational costs for tech businesses.

“Pakistan is done sitting on the sidelines,” Saqib said in an earlier interview. “We want to attract international investment in a high-growth market with a Web3-native workforce ready to build.”

Zhao’s appointment is expected to lend credibility to Pakistan’s crypto ambitions and potentially attract foreign investment into the country’s emerging digital economy.

A High-Profile Addition with a Controversial Past

Zhao is one of the most prominent figures in the global crypto industry, having led Binance, the world’s largest cryptocurrency exchange, from its founding in 2017 until late 2023. He stepped down as CEO after pleading guilty to violating U.S. anti-money laundering laws, for which he received a four-month prison sentence. Despite this legal setback, Zhao remains a widely respected figure in blockchain circles, particularly for his industry expertise and global network.

Crypto Landscape in Pakistan

Pakistan has emerged as a potential hub for digital asset adoption, driven by:

High retail participation

A large diaspora remittance market

Currency depreciation of the Pakistani rupee

A growing interest in stablecoins as a hedge against inflation

According to Chainalysis’ 2024 Crypto Adoption Index, Pakistan ranked ninth in Central and Southern Asia and Oceania for grassroots crypto activity. Surveys by KuCoin and Bitget also reveal that a significant portion of users in the region turn to crypto for transaction speed, accessibility, and protection against currency devaluation.

Regulatory Outlook

The PCC is expected to play a key role in shaping Pakistan’s regulatory framework for digital assets. Its formation and Zhao’s appointment reflect a broader effort by the government to formalize crypto oversight and encourage legitimate, regulated use of blockchain technologies.

Pakistan’s move follows a regional trend, as neighboring countries like India, Bangladesh, and Kyrgyzstan explore or implement crypto-related frameworks.

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