Pakistan Pitches Bitcoin Reserve Plan to Trump’s Crypto Team – Crypto Adoption Rising? Jimmy Aki | usagoldmines.com

Pakistan just made a high-stakes play. On June 4, its crypto minister pitched a Bitcoin Reserve plan to Trump’s team and launched massive mining operations using 2,000 megawatts of spare electricity—enough to power a small city.

The dual plan seeks to formalize Pakistan’s $25 billion shadow crypto economy. However, the IMF warns that the mining surge could strain a power grid already running on fumes. Now, Pakistan’s gamble hinges on U.S. support.

Doubts and Interest Follow Pakistan’s Bitcoin Reserve Reveal at the White House

Crypto Minister Bilal Bin Saqib made Pakistan’s case directly to Washington. In meetings at the White House, he requested U.S. technical expertise and investment for a bold proposal, redirecting 2,000 megawatts (2 GW) of unused electricity toward Bitcoin mining and AI data centers.

“Pakistan is building a real framework for digital-asset adoption and economic modernization,” he told reporters.

The push goes beyond mining. Saqib later met with the White House Counsel’s Office to align cryptocurrency regulations between the two nations. The discussions indicate shared interest in compatible rules as the Trump administration prioritizes “hard-money” infrastructure projects.

However, Pakistan isn’t waiting for outside approval. On May 21, the Finance Ministry greenlit the Pakistan Digital Assets Authority (PDAA), a unified regulator for crypto exchanges, stablecoins, and token platforms.

The PDAA will license companies and enforce compliance, potentially formalizing Pakistan’s $25 billion informal crypto market and making it viable for U.S. partnerships.

Not everyone is on board. For example, during debt program talks on May 31, the International Monetary Fund pressed for clarity on the 2 GW power allocation, warning that Pakistan’s chronic energy shortages and fiscal stress make subsidized Bitcoin mining a risky proposition.

The fund has linked further financial support to clear assurances that the Bitcoin mining plan won’t violate existing agreements or deepen budget shortfalls.

Crypto Chaos: Can Pakistan Fix Its Contradictions?

In a surprising move, Prime Minister Shehbaz Sharif appointed London-educated entrepreneur Bilal Bin Saqib as Special Assistant to the Prime Minister on Blockchain and Crypto on May 26, granting him minister-level authority.

Saqib now holds sweeping powers to draft FATF-compliant regulations, license exchanges, and steer Pakistan’s ambitious plan to allocate 2,000 MW of surplus energy to government-backed Bitcoin mining and AI hubs. His credentials appear strong.

His credentials appear strong as he already heads the Pakistan Crypto Council (PCC) and has enlisted Binance founder Changpeng Zhao as an adviser.

Yet just days after Saqib’s appointment, Pakistan’s Finance Ministry and central bank reaffirmed that all cryptocurrency transactions remain strictly illegal under 2024 regulations.

Officials warned that promoting crypto could expose citizens to fraud and money laundering, with some critics arguing that unregulated digital assets might simply replace the informal hawala networks Pakistan has long struggled to control.

This glaring contradiction puts Saqib in an awkward position: he’s simultaneously crafting a National Bitcoin Strategy while operating under a system that criminalizes the very market he’s trying to formalize.

The disconnect has created a dangerous perception gap. On one side, Saqib pitches Pakistan as a future crypto hub, even proposing a sovereign Bitcoin reserve. On the other hand, banks block transactions and regulators threaten penalties.

The stakes couldn’t be higher. Pakistan’s ability to attract digital asset investment hinges on resolving this schism.

Will the government double down on prohibition, or will Saqib’s team succeed in rewriting the rules? The answer could either position Pakistan as a regional leader in digital assets or leave it watching from the sidelines.

Can Pakistan Lock In Trump’s Support for Its Strategic Bitcoin Reserve?

Analysts suggest the Trump administration may support Pakistan’s crypto push, citing recent developments.

In April, World Liberty Financial (WLFI), a Trump-aligned firm, signed a binding agreement with Pakistan’s Crypto Council (PCC).

The deal, finalized in Islamabad, seeks to pilot decentralized finance (DeFi) projects, asset tokenization, and stablecoin systems for remittance purposes. WLFI’s founders met directly with Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb to launch these initiatives.

WLFI brings substantial resources to the table. The firm has recently raised $550 million, launched its USD-pegged stablecoin, and secured a $2 billion investment pledge from a UAE backer.

However, the timing raises questions.

With WLFI’s Trump ties and Pakistan’s sudden regulatory shifts, observers wonder whether this partnership was coordinated before the White House meeting. For now, all eyes remain on whether Trump’s circle will formally endorse Pakistan’s Bitcoin ambitions.

Frequently Asked Questions (FAQs)

The post Pakistan Pitches Bitcoin Reserve Plan to Trump’s Crypto Team – Crypto Adoption Rising? appeared first on Cryptonews.

This articles is written by : Nermeen Nabil Khear Abdelmalak

All rights reserved to : USAGOLDMIES . www.usagoldmines.com

You can Enjoy surfing our website categories and read more content in many fields you may like .

Why USAGoldMines ?

USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.