Today, I learned that Changpeng Zhao, known by his alias CZ, received the position of strategic adviser at Pakistan’s new Crypto Council (PCC). During this crucial moment, Finance Minister Muhammad Aurangzeb met with Pakistan’s senior officials, including State Bank representatives, while Binance CEO CZ announced his role as strategic advisor for the Crypto Council.
After speaking with Prime Minister Shehbaz Sharif and Deputy PM Ishaq Dar, CZ continued his meeting with significant government officials. Aurangzeb describes this development as a major historic milestone, and I can see why he feels this way. CZ acknowledged that Pakistan welcomed innovation in his vision to transform the nation into a Web3 powerhouse with his guidance.
PCC CEO Bilal Bin Saqib reaffirms complete support for the initiative, stating that CZ represents the perfect choice to guide PCC towards future financial leadership since he developed Binance into a worldwide leader. The recent Bitcoin investments from 9GAG have caught my attention since Pakistan seems to be making a major move with this deal.
Why CZ? Pakistan’s Crypto Goldmine
CZ demonstrates high enthusiasm for the position he obtained and valid justifications. According to him, Pakistan possesses 240 million people who constitute a population where more than 60% belong to an age segment under 30 years old, which creates unlimited opportunities. Statistics from CoinCentral indicate that 20 million Pakistani youth are involved in cryptocurrency transactions, which amount to $20 billion. India leads while Pakistan maintains a third position on the Global Crypto Adoption Index, ahead of Vietnam, according to Chainalysis 2024.
The Pakistani Crypto Controller initiated its operations in January under the leadership of Aurangzeb to capture this potential. CZ’s job? To assist national development by developing rules for crypto activities combined with infrastructure while teaching citizens about crypto and making them ready for global use. Saqib supports this effort as he has represented Pakistan at NFT NYC and the World Economic Forum through his blockchain profession.
Every year, Pakistani households receive $35 billion from international remittances (World Bank 2024). Crypto technology has the potential to cut costs and boost speed handling, especially after the implementation of the USDC IPO, as I discussed previously. Binance’s know-how acquired from CZ provides the potential to transform Pakistan into a forthcoming Web3 hub that rivals Dubai and Singapore. I’m picturing it now—pretty slick.
Bold Move, Big Stakes
This isn’t just talk—Pakistan’s all-in. Aurangzeb leads the PCC as chairman, while the State Bank governor, SECP head, IT secretary, and law secretary comprise the rest of its executive board. The appointment demonstrates CZ’s determination to succeed in commanding this position.
This venture does not have a guaranteed smooth path ahead. The appointment of CZ is controversial because Binance received a $4.3 billion DOJ fine, and he faces potential jail time for money laundering, which starts in 2024, according to Wikipedia. Regardless of being considered a risky choice by some X members, Aurangzeb believes his vision outweighs the risks arising from his past decisions. Despite Trump’s tariff storms and Eric Trump’s admiration for BTC cryptocurrency, it remains a chaotic situation during which Pakistan makes its own entry anyway.
Will it pay off? CZ’s successful execution should make Pakistan surpass competitors in the Web3 field. My mind is completely absorbed by this situation, although it could end up being disastrous or transformative. Should we analyze the recent council board takeover in crypto?
