Bilal Bin Saqib, CEO of the Pakistan Crypto Council, admitted that Pakistan’s recent crypto-friendly steps are political. He said they are mainly meant to fix the country’s global image.
At a global crypto event in Las Vegas, he said, “Both Pakistan and Bitcoin have suffered from bad PR. We are looked at as being dangerous, risky and unstable. But once we look beyond these headlines, we can see a lot of potential, resources and talent. So Pakistan is looking for allies.”
WLFI’s Silence Triggers Political Concerns
Meanwhile, the silence of World Liberty Financial Inc. (WLFI) has raised new concerns. In April, the company signed a crypto deal with the Pakistan Crypto Council after speaking with Prime Minister Shehbaz Sharif.
Notably, WLFI is largely owned by the Trump family. Now, a U.S. Senate subcommittee is asking WLFI about its communication with Pakistan’s government. However, the company has refused to comment, which has increased doubts.
As a result, many suspect the Trump family may be using political ties for personal business gain.
Pakistan Follows U.S. Lead on Crypto
Moreover, Saqib clearly stated that Pakistan is taking cues from the U.S. in its crypto journey. “We want to thank the US because we are getting inspired from them,” he said.
Back in March, Donald Trump signed an executive order to set up a national Bitcoin reserve. Soon after, Pakistan’s interest in crypto increased sharply.
Trump Family Linked to WLFI Deal
Furthermore, several members of the Trump family are connected to WLFI. Donald Trump Jr., Eric Trump, and Barron Trump are all part of the company as “Web3 Ambassadors.” These roles involve promoting crypto tools like digital wallets and apps.
Additionally, Zach Witkoff, the son of Trump’s former special envoy Steve Witkoff, is one of the company’s co-founders. On April 27, Zach shared on social media that the deal would “bring diversity and financial inclusion to the next generation in Pakistan and beyond.”
Crypto Push Tied to India-Pakistan Ceasefire
Soon after a terror attack in Pahalgam, tensions between India and Pakistan escalated. During that time, Trump claimed he helped broker a ceasefire between the two nations.
Interestingly, Pakistan supported Trump’s version. In contrast, India denied it and said the understanding was reached through bilateral discussions without much U.S. involvement.
Army Also Supports Crypto Expansion
Earlier this year, Saqib met with Army Chief Asim Munir. Later, Munir was promoted to the rank of Field Marshal. During the meeting, they discussed plans to boost Pakistan’s crypto industry.
