In a surprising development, the government of Pakistan has officially appointed Changpeng “CZ” Zhao, the former CEO of Binance, as a strategic advisor to help shape the country’s national cryptocurrency and blockchain policies.
According to sources familiar with the matter, CZ’s appointment was finalized earlier today during a closed-door session between Pakistan’s Ministry of Finance and top members of the National Blockchain Task Force. The move is part of Pakistan’s broader push to modernize its financial infrastructure and position itself as a competitive player in the global digital economy.
A Global Vision for Crypto in Pakistan
The appointment marks a significant shift in Pakistan’s stance toward cryptocurrency. Historically, the country has maintained a cautious approach to crypto assets, even banning certain crypto-related services in the past. However, recent economic challenges and growing interest from younger, tech-savvy populations have pushed policymakers to reconsider.
“Pakistan is ready to embrace the future of finance,” said Finance Minister Muhammad Aurangzeb in a statement. “With CZ’s experience in building the world’s largest crypto exchange and navigating global regulatory landscapes, we believe he is uniquely positioned to help us design policies that are secure, innovative, and globally aligned.”
CZ’s First Official Role Since Stepping Down
This is the first official advisory role for CZ since he stepped down as Binance CEO in late 2023 following a $4.3 billion settlement with the U.S. Department of Justice. While the case led to increased regulatory scrutiny on Binance, CZ himself avoided jail time and was widely credited with cooperating to resolve legal challenges.
In a post on X (formerly Twitter), CZ said he was “honored” by the opportunity and praised Pakistan’s ambition to “lead in responsible crypto innovation.”
“I look forward to working closely with Pakistani leaders to develop policies that protect users, encourage innovation, and unlock the economic potential of blockchain technology,” he said.
A Boost for Regional Crypto Ambitions
Pakistan’s decision to bring CZ on board signals a new chapter not just for the country, but potentially for the South Asian region at large. Industry analysts say this move could encourage neighboring countries to take more proactive steps in establishing crypto regulations and embracing digital assets.
“The inclusion of CZ sends a powerful message to the global crypto community: Pakistan is open for innovation,” said Sanaullah Khan, a blockchain consultant based in Islamabad. “This could attract international investment and accelerate the growth of Pakistan’s Web3 sector.”
Challenges Ahead
Despite the optimism, Pakistan’s crypto path is not without challenges. The country still lacks a clear regulatory framework, and financial institutions remain wary of crypto-related transactions. Additionally, the influence of global watchdogs like the IMF and FATF could complicate policy developments.
Still, CZ’s appointment may serve as the catalyst needed to streamline policymaking and establish Pakistan as a responsible but forward-thinking actor in the global crypto scene.
