How crypto world made inroads in Pakistan

Pakistan is undergoing a significant policy shift by regulating and mainstreaming cryptocurrency after an eight-year ban. This pivot is largely driven by a desire to align with the pro-crypto stance of the Trump administration and to capture the economic potential of a market where Pakistan already ranks third globally in adoption. The government has established a crypto council and initiated licensing for major platforms like Binance, despite past legal controversies involving its founder. However, this push faces substantial hurdles from influential Islamic scholars who question whether digital assets possess the "intrinsic value" required for Sharia compliance. While advocates argue that crypto can facilitate cheaper remittances for migrant workers and freelancers, the lack of religious consensus and the risks of "moving too quickly"—as seen in the FTX collapse—remain central challenges to the country's digital currency ambitions.