Pakistan Brings CZ Onboard for Crypto Policy Development

Changpeng Zhao, the former CEO of Binance, has taken on a new role helping Pakistan shape its approach to blockchain and Web3 technologies. He’s now a strategic advisor to the Pakistan Crypto Council, according to reports from local media.

The country of 247 million is looking to expand its digital finance sector, and Zhao’s involvement signals that it’s serious about moving forward.

Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, called the move an important step.

“This is a landmark moment for Pakistan. We are sending a clear message to the world: Pakistan is open for innovation. With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth.”

The Pakistan Crypto Council, led by CEO Bilal Bin Saqib, sees CZ as the right person to help guide the country.

“Pakistan is opening its doors to the future of finance. And who better to guide us on this journey than CZ — a pioneer who built the world’s largest crypto exchange and changed the way billions think about financial freedom.”

Zhao has said he believes Pakistan has “limitless” potential when it comes to crypto. His recent work also includes efforts in Kyrgyzstan, where he signed a deal to help the country improve how it uses crypto technology. The country already expressed intentions to push for ‘green’ Bitcoin mining back in 2023.

“I officially and unofficially advise a few governments on their crypto regulatory frameworks and blockchain solutions for gov efficiency, expanding blockchain to more than trading. I find this work extremely meaningful,” Zhao said.

Binance, under Zhao’s leadership, grew into one of the most recognized names in crypto. Although he stepped down as CEO in 2023 as part of a deal with US authorities, Zhao has stayed active in the industry through investments and advisory work.

We first reported on Pakistan’s interest in Bitcoin mining four years ago. The country had been eyeing the opportunity, mainly due to its access to affordable hydroelectric power. While the cooler climate helped, the bigger draw was the energy supply in Khyber Pakhtunkhwa, where mining farms were planned to run on two hydroelectric plants.