{"id":126637,"date":"2025-04-07T17:15:47","date_gmt":"2025-04-07T17:15:47","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126637"},"modified":"2025-04-07T17:15:47","modified_gmt":"2025-04-07T17:15:47","slug":"pakistan-appoints-changpeng-zhao-as-crypto-adviser-as-adoption-heats-up","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126637","title":{"rendered":"Pakistan appoints Changpeng Zhao as crypto adviser as adoption heats up"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsFormer Binance CEO Changpeng \u201cCZ\u201d Zhao has been appointed as an adviser to Pakistan\u2019s Crypto Council, a newly formed regulatory body tasked with overseeing the country\u2019s embrace of blockchain technology and digital assets.\u00a0<br \/>\nThe appointment was confirmed by Pakistan\u2019s finance ministry and reported by Bloomberg on April 7. Zhao will advise the regulatory body on cryptocurrency regulation, infrastructure and adoption, Bloomberg reported.<br \/>\nCZ is seen signing documents during his appointment by Pakistan\u2019s Ministry of Finance. Source: Business RecorderZhao is one of the most recognizable names in crypto, having served as CEO of Binance between 2017 and 2023. He resigned as CEO of the exchange in November 2023 after pleading guilty to charges related to violating US money laundering laws. He was later sentenced to four months in prison.\u00a0<br \/>\nFor Pakistan, Zhao is a high-profile appointment that could potentially help the country lure foreign investment in an industry that has taken on new strategic importance.<br \/>\nIn March, the CEO of Pakistan\u2019s Crypto Council, Bilal bin Saqib, told Bloomberg that the country plans to develop a clear regulatory framework for digital assets.<br \/>\n\u201cPakistan is done sitting on the sidelines,\u201d Saqib said. \u201cWe want to attract international investment because Pakistan is a low-cost high-growth market with [&#8230;] a Web3 native workforce ready to build.\u201d<br \/>\nRelated: Binance co-founder Changpeng Zhao to advise Kyrgyzstan on blockchain tech<br \/>\nCrypto in Pakistan: Adoption and pain-points<br \/>\nPakistan has long been considered a potential hub for crypto adoption due to its growing population, large diaspora and thriving black market for foreign exchange trades.\u00a0<br \/>\nThe value of cash sent to Pakistan through formal remittance channels surged at the end of last year amid a countrywide crackdown on black market dollar trades.<br \/>\n\u201cThis increase might be because remittances that had previously been sent using the black market are now being sent via official channels,\u201d John Ashbourne, an economist at Fitch Solutions, told Bloomberg.\u00a0<br \/>\nPakistan ranked highly in Chainalysis\u2019 2024 crypto adoption index, largely due to strong retail adoption and transactions at centralized services.<br \/>\nIn 2024, Pakistan ranked ninth among Central and Southern Asia and Oceania (CSAO) countries. Source: ChainalysisStablecoins have emerged as one of crypto\u2019s most prominent use cases in regions with high demand for US dollars due to currency depreciation.<br \/>\nAlthough data on stablecoin usage in Pakistan is slim, a 2023 KuCoin survey revealed that 33% of local crypto investors use digital assets to hedge against the rupee\u2019s devaluation.\u00a0<br \/>\nA more recent survey conducted by Bitget found that 46% of respondents in South Asia \u2014 a region that includes India, Pakistan, Bangladesh and others \u2014 use digital assets for speed and accessibility of transactions.\u00a0<br \/>\nMagazine: How crypto laws are changing across the world in 2025<a href=\"https:\/\/cointelegraph.com\/news\/pakistan-appoints-changpeng-zhao-crypto-adviser?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsFormer Binance CEO Changpeng \u201cCZ\u201d Zhao has been appointed as an adviser to Pakistan\u2019s Crypto Council, a newly formed regulatory body tasked with overseeing the country\u2019s embrace of&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126637"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126637"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126637\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126637"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}