Senator Hagerty is leading the GENIUS Act of 2025, which seeks to establish a comprehensive regulatory framework for payment stablecoins in the U.S., promoting financial inclusion.

The GENIUS Act serves as a potential model for emerging economies like Pakistan as they look to responsibly integrate digital assets into their financial systems.

In addition to his meetings with U.S. lawmakers, Saqib also engaged with Chief of Army Staff Field Marshal Asim Munir to explore the strategic potential of blockchain and AI for economic growth.

Saqib highlighted the importance of innovation and financial inclusion in the context of cryptocurrency, reinforcing the need for a supportive regulatory environment.

Senator Scott co-sponsored the CBDC Anti-Surveillance State Act, which aims to protect individual privacy by limiting the direct issuance of central bank digital currencies.

The Ministry of Finance has announced the establishment of the Pakistan Digital Assets Authority (PDAA), a significant move aimed at regulating blockchain infrastructure and virtual assets.

Finance Minister Muhammad Aurangzeb emphasized that the PDAA will foster a secure ecosystem for virtual assets, including regulated Bitcoin mining and the tokenization of public assets.

This initiative is part of Pakistan's broader strategy to regulate its informal crypto market and position itself as a regional hub for blockchain and digital finance.

Pakistan ranks among the top five countries globally for cryptocurrency usage, driven by a youthful population and a burgeoning freelance and IT sector.

With over $36 billion in annual remittances, Pakistan sees stablecoins as a potential solution to reduce transaction costs and enhance access for underbanked communities.

Bilal Bin Saqib, CEO of the Pakistan Crypto Council (PCC), recently met with U.S. Senators Bill Hagerty and Rick Scott to discuss digital finance and regulatory frameworks.

These discussions aimed to develop regulatory frameworks in Pakistan that align with international standards, promoting innovation and financial inclusion.