Pakistan and Kyrgyzstan are strengthening their relationship, especially in the world of cryptocurrency and blockchain technology.
A Virtual Meeting and Big Plans
Recently, the two countries held an online meeting between high-level officials. Pakistan’s Minister of State for Crypto and Blockchain, Bilal Bin Saqib, and Kyrgyzstan’s Director of the National Investment Agency, Farkhat Aminov, discussed ways to collaborate. Their goals include sharing expertise on digital finance, creating joint regulations for cryptocurrencies, and working together on blockchain projects.
Pakistan is pushing for a formal agreement (a Memorandum of Understanding or MoU) to make this cooperation official.
Pakistan’s Crypto Initiatives
Pakistan has been actively developing its crypto infrastructure. They’ve established the Pakistan Crypto Council, with Bin Saqib as CEO and the Finance Minister as chairman. Furthermore, Pakistan’s Virtual Assets Ordinance, 2025, establishes a regulatory body for cryptocurrencies, a move praised by Bitcoin expert Michael Saylor.
Collaboration on Blockchain
The two countries plan to collaborate on blockchain research, including training programs, sharing research findings, and testing new financial tools. They’ll also focus on investor protection, digital wallets, and regulatory frameworks. A follow-up meeting is planned to finalize the details of the MoU.
Boosting Trade Beyond Crypto
Beyond crypto, Pakistan and Kyrgyzstan are also working to significantly increase their bilateral trade, aiming for $100 million annually. They’re planning various initiatives like trade fairs and business meetings to achieve this goal. Improving transportation links, including roads, railways, and air travel, is also a key part of their strategy to connect landlocked Kyrgyzstan with Pakistan’s ports.
The Future of Crypto Cooperation
The upcoming MoU on crypto cooperation will be a significant step forward. It will provide a clear legal framework, attracting international investment and protecting users within both countries. Pakistan’s Virtual Assets Ordinance, 2025, will serve as a guide, outlining licensing, auditing, and anti-fraud measures.