Pakistan’s crypto scene just got a major boost! Changpeng Zhao (CZ), the co-founder and former CEO of Binance (the biggest crypto exchange globally), is now advising the Pakistan Crypto Council (PCC).
A Big Get for Pakistan
The Pakistani finance ministry announced the news recently, following CZ’s meetings with top PCC members, including the finance minister and the council’s CEO. He even chatted with the Prime Minister and Deputy Prime Minister during his visit.
The PCC, a newly formed government body, is working on creating cryptocurrency rules to attract foreign investment. While Bitcoin and other cryptos aren’t officially legal or illegal in Pakistan, the central bank hasn’t allowed any crypto transactions since January 2021.
The finance minister called it a “landmark moment,” saying it shows Pakistan is open to innovation. With CZ’s help, they hope to make Pakistan a leader in Web3 and blockchain tech.
CZ’s Role and Vision
As an advisor, CZ will help with everything from creating regulations and building infrastructure to educating people about crypto and boosting adoption. He’ll work closely with the government and private businesses to create a fair and competitive crypto environment.
CZ sees huge potential in Pakistan, especially its young population. He pointed out that over 60% of Pakistan’s 240 million people are under 30, calling the potential “limitless.”
CZ’s Background
It’s worth noting that CZ recently stepped down as Binance CEO and settled a large lawsuit with US authorities. Despite this, he remains a major player in the crypto world. He’s incredibly wealthy and has a long history in the industry, starting with Blockchain.info and OKCoin before founding Binance. Binance quickly became the world’s largest crypto exchange, raising $15 million through an ICO.
