- The PCC and El Salvador’s Bitcoin Office plan on collaborating on BTC initiatives
- PCC chief asked Bukele about his experience of making El Salvador the first nation to make BTC a legal tender
- Pakistan is looking to create a comprehensive legal framework to regulate crypto
As Pakistan ventures deeper into exploring crypto, it seems to be reaching out to veterans hoping to get a better understanding on how the ecosystem works and sustains. In a fresh development, the CEO of the Pakistan Crypto Council (PCC), Bilal bin Saqib, flew to the Central American country of El Salvador to open BTC-related conversations with the pro-crypto Salvadoran President.
This marked the first official meeting between Pakistan and El Salvador. As part of the meet, the PCC reportedly signed a Letter of Intent (LoI) with El Salvador’s Bitcoin Office establishing a formal channel for cooperation and knowledge sharing on crypto-focussed initiatives.
The PCC CEO called Salvadoran President Nayib Bukele a “leader from the future” for backing Bitcoin “when it wasn’t cool” in a post on X. He was referring to Bukele’s decision to make BTC as a legal tender in El Salvador back in September 2021 despite opposition from entities including the International Monetary Fund (IMF).
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“Just met one of the most extraordinary visionary leaders of our time, President of El Salvador, @nayibbukele. A head of state who doesn’t just talk tech, but challenges it, from AI and robotics to Bitcoin. El Salvador isn’t just embracing innovation, it’s writing the blueprint for the world,” Saqib posted.
The official X handle of the Bukele-led National Bitcoin Office (ONBTC) shared that Bitcoin-specific topics including strategic reserves, education initiatives, as well as mining and energy resources also made it to the discussion table.
In recent months, Pakistan has taken several pro-crypto steps to elevate its standing in the crypto arena.
The PCC, for instance, has onboarded Binance co-founder Changpeng Zhao on its advisory board. This week itself, Pakistan’s Finance Minister Muhammad Aurangzeb virtually met with MicroStrategy chief Michael Saylor, a multi-billionaire renowned for his BTC endorsements.
The Asian nation is seemingly working to shape up a comprehensive regulatory regime to oversee the crypto sector on the national level as advancements in the industry continue to expand in other parts of the world.
