Pakistan’s Grand Crypto Plan: Bitcoin Reserves and the White House Tango

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Ah, the saga continues. Bilal Bin Saqib, Pakistan’s oh-so-ambitious minister for crypto and blockchain, waltzed into the White House for a sit-down with Robert “Bo” Hines, the executive director of Trump’s Council on Digital Assets. Talk about a collision of worlds! The purpose? Well, naturally, to discuss the bright future of digital assets, including that old chestnut, Bitcoin (BTC), and how Pakistan plans to carve out its place as the shining beacon of decentralized finance. All of this, we are assured, will bring forth a new era of global cooperation. 🌍

In between sips of overpriced coffee, the two men jabbered about potential partnerships and the lofty idea of transforming the world with crypto. Saqib, no doubt sensing the gravity of his mission, declared that he was positioning Pakistan as a “global leader” in digital assets. Quite the bold claim, don’t you think? His plan? To launch a “Strategic Bitcoin Reserve.” Because, well, who doesn’t want one of those? 🪙

“From launching our Strategic Bitcoin Reserve to unlocking national infrastructure for crypto mining and AI data zones, Pakistan is building a real framework for digital asset adoption and economic modernization,” Saqib said, presumably with a straight face. The man is clearly on a mission, folks.

Meanwhile, Hines, who has the unenviable task of working under Trump’s banner, nodded along. Appointed earlier this year, Hines leads the US’s policy on digital assets, working closely with Council Chair David Sacks to make sure that America doesn’t fall behind in this brave new world of digital currency. Spoiler alert: Trump’s administration is keen on dominating the space. As one does. 🇺🇸

Saqib Meets with White House Counsel: More Crypto Shenanigans

Beyond the thrills of meeting with Hines, Saqib also had a chat with officials from the White House Counsel’s Office. The topic? The finer details of blockchain governance. Because why not complicate things further with legal frameworks for something still largely unregulated? Naturally, Pakistan’s crypto strategy involves allocating 2,000 megawatts of surplus power for Bitcoin mining and AI data zones. The idea? To turn unused energy into digital productivity, while creating jobs. Yes, it’s that easy! 💡

And of course, there’s the matter of a regulatory framework. Pakistan’s Ministry of Finance, ever the bureaucratic hero, has endorsed the creation of the Pakistan Digital Assets Authority (PDAA). This entity will handle the important task of regulating everything from exchanges to decentralized finance apps. If only it were that simple. 🤔

IMF Throws Shade on Pakistan’s Bitcoin Mining Plans

Not everyone is so impressed, however. Enter the International Monetary Fund (IMF), who, on May 31, raised concerns about Pakistan’s grandiose plan to allocate 2,000 megawatts of electricity for Bitcoin mining and AI data centers. Because, you know, Pakistan is already struggling with energy shortages and fiscal pressures. The IMF politely asked the Finance Ministry for some clarification on the legality of crypto mining and the power allocations. They do have a point. 🔋

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2025-06-04 12:45