Binance Co Founder Joins Pakistan's Crypto Council

Binance co-founder Changpeng Zhao has officially joined as an advisor to Pakistan's Crypto Council, which aims to legalize cryptocurrency in Pakistan. The Prime Minister of Pakistan officially notified the PCC (Pakistan Crypto Council) last month to legalize bitcoins and cryptocurrency in Pakistan to attract billions of dollars in investment locally and from abroad. 

The finance minister officially announced that Changpeng Zhao, who is a billionaire and Binance co-founder, is joining Pakistan's Crypto Council to advise Pakistan on bitcoins and cryptocurrency. Pakistan is aiming to legalize cryptocurrency via legal methods that are acceptable to all, like the US, China, and many European countries. Pakistan aims to become a role model for crypto investment, announced the head of the council, Bilal Bin Saqib, who is the chief advisor to the finance minister for the crypto council. Therefore, Binance is one of the global brands in this regard.

“This is a landmark moment for Pakistan,” said Aurangzeb. “We are sending a clear message to the world: Pakistan is open for innovation. With Zhao onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital          finance, and blockchain-driven growth. PCC CEO Saqib said Pakistan was “opening its doors to the future of finance”.

Moreover, it is worth noting that Pakistan is now focusing on digital currency so that they can have a fair share of cryptocurrency investments, which is in billions, and to do that, it requires the best legal framework possible, which is acceptable to all, including the IMF and FATF. The head of Pakistan's Crypto Council says that they are done waiting, and now Pakistan will be a role model for the cryptocurrency investment. Pakistan aims to be the best web3 investment model country. Moreover, hiring the co-founder of Binance is another milestone for Pakistan. 

However, to be successful in this regard, Pakistan has to ensure that it does not violate IMF and FATF rules, which focus on anti-money laundering and terror financing checks. Therefore, it is a tough task from Pakistan because Pakistan was on the gray list of the FATF in June 2018, and it came out of the gray list in October 2022. Moreover, Pakistan came out of the FATF gray to the FATF White List because of the hard effort by the government and all stakeholders of Pakistan. Therefore, this time Pakistan is ensuring they tick all the boxes and there are no loopholes or any hassles, which is Pakistan's best strategy by far, as they are following the Binance model. 

Binance is the most recognized cryptocurrency trading application, which operates globally, and Binance is the one application to trade cryptocurrency/Bitcoin.