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In a surprising geopolitical pivot, former Binance CEO Changpeng “CZ” Zhao is reportedly advising the Pakistani government on its national crypto strategy, marking a bold move by the South Asian country to modernize its digital financial infrastructure.
A Strategic Shift
According to sources familiar with the matter, Pakistani officials have engaged CZ in an informal advisory role to help shape the country’s approach to blockchain regulation, digital asset adoption, and central bank digital currency (CBDC) development.
While neither CZ nor the government has released an official statement, multiple local reports confirm a series of closed-door meetings in Islamabad between Zhao, top finance officials, and regulators from the State Bank of Pakistan.
The move comes at a time when Pakistan is actively seeking to digitize its financial system and attract foreign investment through fintech innovation.
From Controversy to Counsel
CZ’s involvement is striking given his ongoing legal issues in the United States. After stepping down as CEO of Binance in late 2023 and pleading guilty to anti-money laundering violations, Zhao has kept a relatively low public profile.
His emergence in Pakistan’s crypto dialogue has raised eyebrows but also generated cautious optimism among regional crypto advocates. Some see his expertise and global experience as invaluable in helping Pakistan leapfrog legacy systems — while critics warn the partnership could bring further scrutiny from international regulators.
Crypto in Pakistan: A Work in Progress
Pakistan’s stance on crypto has been historically cautious. While the country boasts a growing population of crypto users, formal regulations remain in flux. The State Bank has previously banned cryptocurrencies but more recently signaled interest in exploring blockchain tech and CBDC pilots.
Engaging CZ could mark a turning point — both in regulatory openness and in crafting a policy that balances innovation with financial oversight.
Global Implications
Pakistan’s collaboration with one of crypto’s most recognizable (and controversial) figures could signal a broader trend of emerging economies embracing decentralized finance — even if it means sidestepping Western regulatory orthodoxy.
With CZ reportedly offering guidance on both technical frameworks and policy structure, all eyes will be on Islamabad to see whether this partnership will help Pakistan position itself as a crypto-forward nation — or simply stir more debate.
