Pakistan Taps Binance’s CZ as Advisor to Boost Crypto Ambitions

Former Binance CEO Changpeng ‘CZ’ Zhao has been appointed strategic advisor to the newly established Pakistan Crypto Council. 

The development, first reported by local media, is already gaining traction within the global crypto community.

Pakistan Deepens Crypto Push with CZ’s Appointment

In a strategic move, the Pakistan Crypto Council, a government-backed agency established in March, has been responsible for overseeing blockchain-related initiatives in the country. 

As detailed, CZ’s appointment to the council is part of the Pakistani government’s concerted efforts to grow its digital asset ecosystem. The goal is to attract foreign investment and build a blockchain-driven financial infrastructure.

According to a local report, CZ will advise the Pakistan Crypto Council on several key areas, including crypto infrastructure, adoption strategies, education, and regulatory clarity.

While he did not directly comment on this particular appointment, CZ noted on April 3 through his X account that he officially and unofficially advises several governments on crypto policy and blockchain use in governance.

He said, “I do not get involved in politics or anything else. Just crypto.”

Global Trends Drive Pakistan’s Crypto Ambition

It is important to add that Changpeng Zhao’s addition to the governing council comes when Pakistan seeks to move beyond the sidelines of the digital economy and become an active participant.

Speaking of the above, Bilal Bin Saqib, the CEO of the Pakistan Crypto Council, disclosed that the country is positioning itself to lead blockchain-powered finance in the region.

In a recent interview with Bloomberg TV, Saqib mentioned that the council’s objective is to build a legal framework that encourages business and institutional adoption. 

He also cited the influence of shifting global policies, particularly those in the United States under President Donald Trump administration. He mentioned that the  Trump led government just established a national crypto reserve.

CZ Starts New Phase After Binance Exit

Many crypto influencers believe that CZ’s latest move is pivotal for keeping his presence felt in the digital asset ecosystem.

CZ stepped down as Binance CEO in November 2023 following a plea deal with the United States Department of Justice for violating the Bank Secrecy Act. He served four months in prison and paid a $50 million fine.

Despite these legal challenges, CZ and Binance continue influencing the global crypto space. 

According to recent news, Pakistan is positioning itself as a potential destination for crypto mining. Last month, the Power Division initiated discussions with stakeholders to explore partnerships and introduce more competitive electricity tariffs for major industries.