In a major win for Pakistan’s cryptocurrency market, Changpeng Zhao (CZ), the co-founder and former CEO of Binance, the world’s largest crypto exchange, has been appointed as a strategic adviser to the Pakistan Crypto Council (PCC).
Binance Co-Founder To Boost Crypto Innovation
The announcement was made by the finance ministry on Monday, following Zhao’s meetings with key PCC members, including Federal Minister for Finance Muhammad Aurangzeb, who chairs the council, and CEO Bilal Bin Saqib.
According to local media reports, Changpeng Zhao also held discussions with the Prime Minister and Deputy Prime Minister of Pakistan during his visit to Islamabad over the weekend.
The PCC, established by the government just last month, aims to create a regulatory framework for cryptocurrency trading, a move intended to attract international investment.
Although cryptocurrencies such as Bitcoin (BTC) are not officially regulated in Pakistan, they are not illegal either. Since January 16, 2021, the State Bank of Pakistan has not authorized any entities to conduct transactions involving virtual currencies, coins, or tokens.
“This is a landmark moment for Pakistan; we are sending a clear message to the world: Pakistan is open for innovation,” Senator Muhammad Aurangzeb stated during the announcement.
The Senator emphasized that with Binance’s former CEO on board, the council aims to accelerate its vision of positioning Pakistan as a regional leader in Web3, digital finance, and blockchain technology.
Zhao’s Vision For Pakistan
As a strategic adviser, Zhao will reportedly provide key guidance on various aspects, including regulation, infrastructure development, education, and the adoption of cryptocurrencies.
His role will involve close collaboration with both the Pakistani government and the private sector to create a compliant, inclusive, and globally competitive crypto ecosystem.
Zhao highlighted the potential of Pakistan in terms of cryptocurrency growth, stating, “Pakistan is a country of 240 million people, over 60 percent of whom are under the age of 30. The potential here is limitless.”
Despite his recent legal challenges—having stepped down as Binance CEO and reached a $4.3 billion settlement with US authorities over anti-money laundering violations—Zhao remains one of the most influential figures in the crypto industry.
As of January 2025, Forbes estimates his net worth at approximately $66.6 billion, making him the second-richest Canadian and the 24th richest person in the world.
Zhao’s career in cryptocurrency began in 2013 as part of the team that developed Blockchain.info. He later served as Chief Technology Officer for OKCoin before launching Binance in July 2017.
Within just eight months, Binance became the world’s largest cryptocurrency exchange by trading volume, a feat accomplished after raising $15 million through an initial coin offering (ICO).
As of now, Binance Coin (BNB), trades at $564, recording an 11% price drop over the past two weeks.
Featured image from DALL-E, chart from TradingView.com
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