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Pakistan appoints WLFI advisor responsible for government Blockchain and Crypto Assets affairs.
According to Gate News bot, local media reported on Monday that the Pakistani government has appointed a special assistant to the prime minister responsible for Blockchain and Crypto Assets affairs, following the example of the US government in national participation in the digital asset sector.
The newly established position is held by Bilal Bin Saqib, who is also the Chief Advisor to the Minister of Finance and the CEO of the Pakistan Crypto Assets Commission.
Bin Saqib graduated from the London School of Economics and was selected for Forbes' "30 Under 30" list, and was awarded the Member of the Order of the British Empire (MBE) by King Charles III for his contributions to social impact. This appointment comes at a time when Pakistan is intensifying its efforts to position itself as a crypto assets-friendly economy.
This week, the Pakistani government announced plans to allocate 2000 megawatts of surplus power for Bitcoin mining, as part of a broader initiative to support mining and artificial intelligence data centers. This plan, driven by the Pakistan Crypto Assets Committee, aims to generate revenue, create high-tech job opportunities, and attract foreign investment.
However, like the United States, Pakistan's embrace of Crypto Assets has also raised concerns. According to Pakistan Today, foreign direct investment in Pakistan fell by 45% year-on-year in February, a sharp decline. In January, Pakistan hired an American lobbyist to assist in talks in Washington. According to The Wall Street Journal, Pakistan's Interior Minister called for increased investment from the United States during his visit.
Soon after, government officials of the country began to establish contact with the Trump family's crypto assets project, World Liberty Financial (WLFI).
Shortly after co-founder Zach Witkoff's visit to Pakistan, Bin Saqib became an advisor to the project in April of this year.
During the visit, Witkoff and its co-founders signed a memorandum of understanding with the Pakistani Ministry of Finance, paving the way for the use of World Liberty's stablecoin for trade and remittances in Pakistan.