• Pakistani users trade over $250bn in crypto annually, Binance reveals
• Around 17.5m Pakistanis registered on platform, holding $5bn in virtual assets
• Banks flag security, compliance concerns over crypto integration

ISLAMABAD: The government said on Friday it was considering a “time-bound amn­esty” for cryptocurrency traders, as local banks raised risk and compliance concerns amid more than $250 billion in annual crypto trading reportedly conducted by Pakistani users.

Officials floated the idea at a high-level consultative meeting after a top global cryptocurrency exchange argued that virtual assets could boost Pakistan’s GDP.

“These virtual assets should be considered as part of liquid money supply (M-1) … virtual assets collateralisation will help increase M-1” because these are highly visible and dependable, a Binance team member told the meeting, co-chaired by Finance Minister Muhammad Aurangzeb and Pakistan Virtual Assets Regu­latory Authority (PVARA) Chairman Bilal Bin Saqib.

The meeting had been arranged to discuss and advance work on Pakistan’s National Digital Asset Framework, an official statement said, adding that the State Bank of Pakistan (SBP) governor also attended, along with presidents and executives of the country’s leading commercial banks and senior leaders from Binance, including Global CEO Richard Teng.

The meeting examined sovereign debt tokenisation to enhance liquidity, widen investor access and position Pakistan as a regional........

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