Govt. Endorses Establishment of PDAA to Regulate Blockchain-Based Financial Infrastructure

Islamabad: The government has endorsed the establishment of the Pakistan Digital Assets Authority (PDAA) to regulate blockchain-based financial infrastructure. The new regulatory body is set to oversee and manage the licensing, compliance, and innovation within the digital asset ecosystem in the country. According to Radio Pakistan, the PDAA will regulate various components of the digital financial landscape, including exchanges, custodians, wallets, tokenized platforms, stablecoins, and decentralized finance (DeFi) applications. All these operations will be governed under a single, agile framework designed to ensure both innovation and compliance with global financial norms. This strategic move places Pakistan alongside other forward-thinking economies such as the UAE, Japan, Singapore, and Hong Kong, which have already established digital asset regulators. These countries aim to foster innovation in the financial sector while maintaining compliance with international standards. Finance Minister Muhammad Aurangzeb emphasized the significance of the PDAA, stating that it represents a future-ready framework designed to protect consumers, attract global investment, and position Pakistan as a leader in financial innovation.