Web Desk: Bilal Bin Saqib, Chief Executive Officer of Pakistan Crypto Council has stepped down as special assistant to the prime minister on cryptocurrency and blockchain. This development came on Tuesday.
Pakistan Virtual Assets Regulatory Authority (PVARA) will be still be continued to be chaired by him.
Prime Minister Shehbaz Sharif accepted Saqib’s resignation from the position. The resignation took effect from August 21.
This information was revealed from a notification signed by Cabinet division on October 13.
His role gave him the status of a minister of state and he was appointed to the role on May 26.
On August 1 Saqib was appointed as the PVARA chairman on a pro bono basis for three years.
PVARA is governed by a multi-stakeholder board and is an autonomous federal body. The multi-stakeholder board includes the chairman of the Securities and Exchange Commission of Pakistan, the governor of the State Bank of Pakistan and the chairman of the Federal Board of Revenue.
Its role is to protect consumers, unlock opportunities in fintech and curb illicit finance. It also includes remittances and tokenised assets, while fostering Shariah-compliant innovation through regulatory sandboxes.
Saqib is a part of 30 under 30 list of Forbes. Saqib is also the co-founder of Tayaba which Forbes describe as “a social enterprise that aims to provide solutions to the water crisis in Pakistan”.
In 2023 he received his MBE for contributions to the UK’s National Health Service.
MBE, stands for “Member of the Most Excellent Order of the British Empire”. The MBE is awarded for service to the community which had a significant impact or for some outstanding achievement.
Also read: Experts urge Crypto regulation
