Pakistan’s crypto and blockchain chief unveils country’s first strategic bitcoin reserve

Pakistan’s crypto and blockchain chief unveils country’s first strategic bitcoin reserve
Bilal Bin Saqib, Pakistan’s minister for crypto and blockchain and the CEO of the Pakistan Crypto Council (PCC), speaks on day two of the Bitcoin Vegas 2025 in Vegas, US, on May 28, 2025. (Bitcoin Magazine)
Short Url
Updated 29 May 2025

Pakistan’s crypto and blockchain chief unveils country’s first strategic bitcoin reserve

Pakistan’s crypto and blockchain chief unveils country’s first strategic bitcoin reserve
  • Bilal bin Saqib announced establishment of national Bitcoin wallet holding digital assets already in state custody 
  • Strategic bitcoin reserve is a reserve asset, funded by US Treasury’s forfeited bitcoin, announced by Trump in March 2025

ISLAMABAD: Bilal Bin Saqib, Pakistan’s minister for crypto and blockchain and the CEO of the Pakistan Crypto Council (PCC), unveiled the country’s first government-led strategic bitcoin reserve at Bitcoin Vegas 2025, his office said on Thursday.

The strategic bitcoin reserve is a reserve asset, funded by the United States Treasury’s forfeited bitcoin, announced by President Donald Trump in March 2025. The reserve will be capitalized with bitcoin already owned by the federal government. The United States is the largest known state holder of bitcoin in the world, estimated to hold about 200,000 BTC, as of March 2025.

At Bitcoin 2025, the biggest bitcoin conference in the United States which is underway in Las Vegas, Saqib unveiled “the country’s first government-led Strategic Bitcoin Reserve, and with it, a radically new vision of Pakistan on the global map,” his office said in a statement. 

“Bilal announced the establishment of a national Bitcoin wallet, holding digital assets already in state custody — not for sale or speculation, but as a sovereign reserve signaling long-term belief in decentralized finance.”

Pakistan set up the PCC in March, with Saqib, 34, as the CEO, to create a legal framework for cryptocurrency trading in a bid to lure international investment. Last month, Pakistan introduced its first-ever policy framework, created by a special government group under the Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) authority, to set rules for how digital money like cryptocurrencies and the companies that deal in it should operate in Pakistan. The policy has been formulated to align with compliance and financial integrity guidelines of the global Financial Action Task Force (FATF).

Earlier this month, the government also approved setting up the Pakistan Digital Assets Authority (PDAA), a specialized regulatory body to oversee blockchain-based financial infrastructure.

Speaking during his keynote at Bitcoin 2025, the PCC CEO highlighted that Pakistan had over 40 million crypto wallets, a median age of 23, and one of the largest and most active freelancer economies in the world.

“Saqib revealed that the government of Pakistan has allocated 2,000 megawatts of surplus electricity in Phase 1 for Bitcoin mining and AI data centers, opening doors to sovereign miners, tech firms, and clean energy partners around the world,” the statement said. 

Saqib is also leading the creation of the Pakistan Digital Assets Authority (PDAA) “to empower builders, protect investors, and formalize digital finance frameworks for the future.”

“This wasn’t just a policy moment, it was a rebranding of a nation,” Saqib said at Bitcoin 2025, which featured speakers including White House officials, US lawmakers and crypto industry executives. This year’s keynote speaker was US Vice President JD Vance.

Digital assets have enjoyed a resurgence under President Trump, who courted cash from the crypto industry on the campaign trail by pledging to be a “crypto president.” In his first week in office, Trump ordered the creation of a cryptocurrency working group to propose digital asset regulations. In March, he hosted a group of crypto executives at the White House.

Congress is considering legislation to create a regulatory framework for stablecoins, a type of cryptocurrency pegged to the US dollar. The crypto industry has lobbied lawmakers to pass legislation creating new rules for digital assets and spent more than $119 million backing pro-crypto congressional candidates in last year’s elections.


Twelve soldiers killed in Pakistani Taliban attack — officials

Twelve soldiers killed in Pakistani Taliban attack — officials
Updated 29 sec ago

Twelve soldiers killed in Pakistani Taliban attack — officials

Twelve soldiers killed in Pakistani Taliban attack — officials
  • The casualties occurred as armed men opened fire on a military convoy in South Waziristan district
  • Militant attacks haved killed nearly 460 people, mostly members of the security forces, since Jan. 1

PESHAWAR: At least 12 soldiers were killed in an ambush by the Pakistani Taliban in northwest Pakistan on Saturday, local government and security officials told AFP.

Militancy has surged again in the border regions with Afghanistan since the return to power of the Afghan Taliban in Kabul in 2021.

A military convoy was passing through a town in South Waziristan district at around 4:00 am when “armed men opened fire from both sides with heavy weapons,” killing 12 security personnel and wounding four, a local government official said.

A security officer stationed in the area confirmed the death toll and said the attackers had seized the convoy’s weapons.

The Pakistani Taliban, the Tehreek-e-Taliban (TTP), claimed responsibility for the attack in a message on social media.

The group is separate to but closely linked with the Afghan Taliban.

It was one of the deadliest attacks in months in Khyber Pakhtunkhwa province, where the TTP once controlled swaths of territory until they were pushed back by a military operation that began in 2014.

Islamabad accuses neighboring Afghanistan of failing to expel militants using Afghan territory to launch attacks on Pakistan, an accusation that authorities in Kabul deny.

For several weeks, residents of various districts of Khyber Pakhtunkhwa have reported that graffiti bearing the TTP’s name has appeared on buildings.

They say they fear a return to the TTP’s reign over the region during the peak of the US “War on Terror” that spilled across from Afghanistan.

A senior local government official recently told AFP that the number of TTP fighters and attacks had increased.

Nearly 460 people, mostly members of the security forces, have been killed since January 1 in attacks carried out by armed groups fighting the state, both in Khyber Pakhtunkhwa and the southern province of Balochistan, according to an AFP tally.

Last year was Pakistan’s deadliest in nearly a decade, with more than 1,600 deaths, nearly half of them soldiers and police officers, according to the Islamabad-based Center for Research and Security Studies.


Meet Maryam Ali, Karachi’s ‘unique artist’ soldiering on despite rare eye disease

Meet Maryam Ali, Karachi’s ‘unique artist’ soldiering on despite rare eye disease
Updated 28 min 53 sec ago

Meet Maryam Ali, Karachi’s ‘unique artist’ soldiering on despite rare eye disease

Meet Maryam Ali, Karachi’s ‘unique artist’ soldiering on despite rare eye disease
  • Maryam Ali suffers from rare Retinitis Pigmentosa eye disease, which makes her completely blind at night
  • Ali, who uses pencils, charcoal, and acrylics to draw, has had her work featured in prominent exhibitions

KARACHI: The wall on Maryam Ali’s small studio in Karachi is adorned with intricately sketched drawings: a majestic sketch of the holy Ka’aba, the fierce expression of a lion and the jagged peaks of a mountain with a clear, blue sky hanging overhead.

Ali, 38, suffers from Retinitis Pigmentosa (RP), a rare eye disease that affects the retina and causes its cells to break down slowly over time to trigger vision loss.

According to the US-based National Eye Institute, RP is a genetic disease that people are born with. Symptoms usually start in childhood, and most people eventually lose most of their sight.

Diagnosed with the disease when she was just two, Ali discovered her passion for art as a child. She studied at a mainstream school and completed her matriculation and intermediate qualifications before tying the knot. Her vision, which has been deteriorating since birth, worsened sharply after she turned 30.

However, that didn’t dim her passion for drawing and painting. Ali honed her artistic skills by becoming the first visually impaired student to complete a diploma from the prestigious Indus Valley School of Art and Architecture in Karachi in 2022. Her husband’s support helped along the way.

“I call myself a unique artist because I suffer from a very rare eye disease,” Ali told Arab News. “It is an eye condition in which your cells die and you get difficulty in seeing things.

“So, you have night blindness in it, you have blurry vision, and you have tunnel vision,” Ali explained.

Ali said at night, she becomes “totally blind” and cannot even move without her family’s help. The visually impaired artist estimates she has only 30 percent of her vision left.

Hence unlike other artists, she cannot draw from imagination.

“In my case, I can only paint through pictures,” Ali explained. “Only those pictures which my eyes focus and they can draw it.”

She began her professional career in 2022, using pencils, charcoal, and acrylics to draw. Prolific sculptor Mansoor Zuberi saw her work at an exhibition in Oct. 2024 and has since helped Ali with shows and exhibitions.

Her drawings were featured in a recent Independence Day exhibition at the National Museum of Pakistan. Before her work garnered recognition, Ali said she never admired her craft.

“Because for me, whatever I’m painting, that’s my vision, what I’m seeing,” she said. “So, for me, it was very beautiful and to its fullest. But I valued my work more when the normal artists and senior artists appreciated my work.”

Shahid Rassam, a Pakistani Canadian painter who is the principal of the Arts Council Institute of Arts & Crafts in Karachi, is impressed with Ali’s talent. 

“When I saw Maryam’s work, I realized that not only is she a tremendous talent, but she has not allowed her disability to become a handicap,” Rassam told Arab News.

“She is fighting, and she has transformed all the catharsis within her into art, which is appreciable.”

‘NO COMPLETE CURE’

But even as she soldiers on with her passion, Ali is constantly on the lookout for medical treatment, knowing fully well RP isn’t curable.

“It’s treatable, not curable, and even that is extremely expensive,” she said. “So, I’m looking forward to exploring those, but only once I have enough funds.”

Dr. Haroon Tayyab, an ophthalmologist serving at the Aga Khan University, agreed that there is “no complete cure” for RP. However, he said certain treatments can help slow the disease or manage its effects in some people.

For example, Tayyab said gene therapy for specific mutations, retinal implants, and emerging stem cell or drug-based therapies.

“Beyond the physical limitations, RP also carries an emotional and psychological burden,” Dr. Tayyab noted. “Adjusting to changes in vision, maintaining independence, and coping with uncertainty about the future can be overwhelming at times.”

But RP doesn’t faze the visually impaired artist one bit.

“If I, as an impaired person, can work as well with my disease and come in front of the world and do whatever I have the talent in me, [if[ I can face the difficulties with ease,” she said.

“So why can’t other people do it?”


Cricket: Emotions run high as India and Pakistan face off after May clashes

Cricket: Emotions run high as India and Pakistan face off after May clashes
Updated 13 September 2025

Cricket: Emotions run high as India and Pakistan face off after May clashes

Cricket: Emotions run high as India and Pakistan face off after May clashes
  • India, the reigning 20-overs world champions, are firm favorites to retain their Asia Cup title
  • Coach Mike Hesson wants Pakistan to stay focused though significance of match is not lost on him

DUBAI: An India-Pakistan cricket match is always a blockbuster but emotions will run even higher in Sunday’s Asia Cup clash between the nuclear-armed neighbors, who engaged in a four-day military conflict earlier this year.

Even before the clashes in May, which nearly escalated into a full-blown war, bilateral cricket ties had been suspended. The arch-rivals now play each other only in multi-team tournaments.

Political relations have deteriorated further since the clashes, with several former Indian players urging the Board of Control for Cricket in India (BCCI) to boycott what will be the first meeting between the teams since the recent hostilities.

While the threat of a boycott is over, sparks may fly with India captain Suryakumar Yadav and his Pakistan counterpart Salman Agha ruling out dialing down aggression in the much-anticipated Group A fixture.

India, the reigning 20-overs world champions, are firm favorites to retain their Asia Cup title and are determined not to let geopolitics derail their campaign.

“Once the BCCI said they are aligned with the government, we are here to play,” India’s batting coach Sitanshu Kotak told reporters on Friday.

“Once we are here to play, I think players are focused on playing cricket. I personally don’t think they have anything in mind apart from playing cricket and that’s what we focus on.”

Pakistan coach Mike Hesson also wants his team to stay focused though the significance of the match is not lost on him.

“Being part of a highly-charged event is going to be exciting,” the New Zealander said this week.

“From my perspective ... it is about keeping everybody focused on the job at hand. That will be no different.

“We know India are obviously hugely confident and rightfully so. But we are very much focused on improving as a team day-by-day and not getting ahead of ourselves.”

India appear by far the strongest side in the eight-team tournament, having reinforced themselves with the selection of pace spearhead Jasprit Bumrah and top order batter Shubman Gill.

They were ruthless in their nine-wicket demolition of the United Arab Emirates, whom they routed for 57 in 13.1 overs before returning to chase down the target in 27 balls on Thursday.

Pakistan also opened their account with an easy victory against Oman but their batting has been rather inconsistent.

Pakistan are without former skippers Babar Azam and Mohammad Rizwan but will take heart from winning a T20 tri-series in UAE, also involving Afghanistan, before heading into the Asia Cup.

“We have been playing good cricket in the last two-three months and we just have to play good cricket,” Pakistan captain Salman said on Friday.

“If we can execute our plans for a long enough period, we are good enough to beat any team.


Pakistan’s Sindh says floodwaters rushing downstream from Punjab pose no imminent threat

Pakistan’s Sindh says floodwaters rushing downstream from Punjab pose no imminent threat
Updated 13 September 2025

Pakistan’s Sindh says floodwaters rushing downstream from Punjab pose no imminent threat

Pakistan’s Sindh says floodwaters rushing downstream from Punjab pose no imminent threat
  • Rains, floods have killed at least 97 people and affected over 4,500 villages in Punjab since late August
  • Sindh official says there are 1,651 villages that can be partially inundated if flows reached 700,000 cusecs

KARACHI: Authorities in Pakistan’s Sindh said on Saturday that floodwater rushing downstream from the eastern Punjab province pose no major threat to the southern province.

The floodwaters have been rushing southwards to Sindh after devastating Punjab, where 97 people have been killed and submerging over two million acres of farmland has been submerged since late August.

The inflow of water was 537,220 cusecs at Guddu Barrage on the Indus river, 460,490 cusecs at Sukkur Barrage and 261,234 cusecs at Kotri Barrage in Sindh, according to the provincial information department.

Syed Salman Shah, head of the Sindh Provincial Disaster Management Authority (PDMA), acknowledged that some villages in Sindh’s Dadu district have been inundated, but the situation is “not alarming.”

“The situation in Sindh is not alarming... We have identified 1,651 such villages across Sindh that could be partially inundated in case of a water flow of 700,000 cusecs,” he told Arab News.

“The residents of these villages have already been evacuated and shifted to safe locations, where they are being provided with health care, food, and other facilities.”

Shah said riverside villages in Sindh were likely to be affected if the water flows reached 700,000 cusecs.

“But since these homes are built at height after the last floods [in 2010], there may be no damages to these villages,” he said.

The floods resulted from unusually high rains and India’s release of excess water that swelled Chenab, Ravi and Sutlej rivers in Punjab, which travel southwards to merge in the Indus river in Sindh.

The deluges have affected more than 4,500 villages and over 4.4 million people in Punjab, the country’s breadbasket province, according to Relief Commissioner Punjab Nabeel Javed. Rescuers have so far transported 2.4 million people and 19.1 million livestock to relief camps after rescuing them from marooned villages in several districts.

On Saturday, the Pakistani military, which has been engaged in rescue and relief activities, said Army Chief Field Marshall Asim Munir visited flood-affected areas of Kasur and Jalalpur Pirwala in Punjab to review the prevailing flood situation and ongoing relief efforts.

“The visit to flood affected areas of Kasur and Multan focused on enhancing synergy between the civil administration and the military to ensure effective assistance for the affected population,” the Inter-Services Public Relations (ISPR), the military’s media wing.

Monsoon season brings Pakistan up to 80 percent of its annual rainfall, but increasingly erratic and extreme weather patterns are turning the annual rains, which are vital for agriculture, food security and the livelihoods of millions of farmers, into a destructive force.

Rains, floods, landslides and similar incidents have killed at least 946 people nationwide since June 26, according to the National Disaster Management Authority (NDMA). The disaster has revived memories of the 2022 deluges, when a third of the country was submerged, over 1,700 people were killed and losses exceeded $35 billion.


Pakistan president to meet Chinese leaders in Chengdu on visit to boost ties

Pakistan president to meet Chinese leaders in Chengdu on visit to boost ties
Updated 13 September 2025

Pakistan president to meet Chinese leaders in Chengdu on visit to boost ties

Pakistan president to meet Chinese leaders in Chengdu on visit to boost ties
  • Chinese Vice Foreign Minister Sun Weidong warmly received Asif Ali Zardari upon arrival at the airport
  • The visit follows Islamabad’s signing of investment deals, joint ventures worth $8.5 billion with Beijing

ISLAMABAD: Pakistan President Asif Ali Zardari has arrived in Chengdu where he would meet leaders of China’s Sichuan province, Pakistani state media reported on Friday, with the high-level visit aimed at boosting China-Pakistan ties.

The visit comes on the heels of an official trip to China by Prime Minister Shehbaz Sharif last week, where Islamabad signed investment agreements and joint ventures worth $8.5 billion with Beijing.

President Zardari will be visiting Chengdu and Shanghai cities, and the Xinjiang Uygur Autonomous Region from till Sept. 21 where he will meet Chinese provincial leaders, according to the Pakistani foreign office.

Upon arrival at Chengdu Shuangliu International Airport, he was warmly received by Chinese Vice Foreign Minister Sun Weidong and Vice Governor of Sichuan Province Huang Ruixue, the Radion Pakistan broadcaster reported.

“The President will hold meetings with the Chinese leadership and senior officials to further strengthen Pakistan-China relations, enhance cooperation in diverse fields, and advance shared objectives under the All-Weather Strategic Cooperative Partnership,” it said.

Pakistan views China as an important investment partner and strategic ally, which has funneled billions of dollars into the country under the China-Pakistan Economic Corridor (CPEC) energy and infrastructure project for over a decade.

Beijing is Pakistan’s largest trading partner, with bilateral trade topping $25 billion in recent years, while Chinese firms have also invested heavily in Pakistan’s power, transport, infrastructure and telecoms projects.

“The discussions will encompass Pakistan-China bilateral relations, with a particular focus on economic and trade cooperation, CPEC and future connectivity initiatives,” the Pakistani foreign office earlier said.