Changpeng Zhao (CZ), former CEO of Binance, has been appointed as a strategic advisor to Pakistan’s newly established Crypto Council—a regulatory body formed to guide the nation’s approach to blockchain and digital assets.
His appointment was announced on 7 April, following a high-level meeting in Islamabad chaired by Finance Minister Muhammad Aurangzeb and attended by senior officials from the State Bank of Pakistan, the Securities and Exchange Commission, and key federal ministries.
In this advisory role, CZ will offer strategic input on regulation, infrastructure, education, and the adoption of digital assets.
He is expected to collaborate closely with both public and private stakeholders to help cultivate a secure, inclusive crypto ecosystem—an effort aligned with Pakistan’s broader strategy to attract foreign investment and position itself competitively in the digital economy.
Aurangzeb said:
“This marks a pivotal moment for Pakistan. We’re sending a clear signal that Pakistan welcomes innovation and is serious about building a future-ready digital economy.”
He also pointed out:
“We are sending a clear message to the world: Pakistan is open for innovation. With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth.”
CZ, who led Binance from 2017 until 2023, is one of the most influential figures in the crypto space.
He stepped down as CEO in November 2023 after pleading guilty to violating US anti-money laundering laws and was later sentenced to four months in prison.
Despite this, his involvement is seen as a high-profile move that could lend global credibility to Pakistan’s crypto ambitions.
Council CEO Bilal Bin Saqib stated that CZ’s involvement could play a pivotal role in positioning Pakistan as a progressive force in the evolving Web3 landscape:
“Pakistan is opening its doors to the future of finance. And who better to guide us on this journey than CZ — a pioneer who built the world’s largest crypto exchange and changed the way billions think about financial freedom.”
The Pakistan Crypto Council, formed in March under the Finance Division and led by the finance minister, includes top legal and regulatory authorities.
Its mandate is to develop clear digital asset policies and foster responsible blockchain innovation.
According to Finance Ministry statements, the council aims to “unlock the full potential of the sector” and establish Pakistan as a key player in the web3 economy.
Saqib highlighted CZ’s participation as a step toward positioning Pakistan as the crypto capital of South Asia:
“Pakistan is done sitting on the sidelines. We want to attract international investment because Pakistan is a low-cost high-growth market with [...] a Web3 native workforce ready to build.”
CZ joined the council just weeks after its inaugural meeting on 21 March.
During his visit, he also held private meetings with Prime Minister Shehbaz Sharif and Deputy Prime Minister Senator Ishaq Dar.
In a 3 April post on X (formerly known as Twitter), CZ noted that he advises several governments—both officially and unofficially—on crypto regulations and blockchain applications beyond trading, though he did not directly mention Pakistan.
He then added:
"I don't get involved in politics or anything else. Just crypto."
CZ’s appointment was announced on 7 April 2025, during his visit to Islamabad, where he met with top officials including Prime Minister Shehbaz Sharif, Finance Minister Senator Muhammad Aurangzeb, and senior leaders from the State Bank of Pakistan and the Securities and Exchange Commission.
Changpeng Zhao was photographed signing official documents during his appointment by Pakistan’s Ministry of Finance, formalizing his new role as strategic advisor to the country’s Crypto Council.
CZ emphasized Pakistan’s unique demographic edge—its population of over 240 million, with a majority under the age of 30—as a key indicator of the nation’s untapped potential in the digital economy:
“Pakistan is a country of 240 million people, over 60% of whom are under the age of 30. The potential here is limitless.”
Pakistan has increasingly been seen as fertile ground for crypto adoption, driven by its youthful, growing population, a vast diaspora, and an active informal market for foreign exchange.
Recent government crackdowns on black market dollar trading have led to a surge in formal remittance flows, underscoring the demand for efficient, transparent financial alternatives.
John Ashbourne, an economist at Fitch Solutions, noted:
“This increase might be because remittances that had previously been sent using the black market are now being sent via official channels.”
The Crypto Council's intensified efforts come as the country grapples with declining foreign investment—foreign direct investment fell 45% in February compared to the same month last year.
Still, Pakistan ranked prominently in Chainalysis’ 2024 Global Crypto Adoption Index, propelled by strong retail participation and activity on centralised platforms.
Pakistan secured the ninth position among countries in the Central and Southern Asia and Oceania (CSAO) region in 2024.
CZ’s appointment as a strategic advisor to Pakistan’s Crypto Council signals his deeper reentry into the Web3 space following his departure from Binance.
After stepping down as CEO as part of a plea agreement with US authorities and serving a four-month prison sentence for violating anti-money laundering laws, CZ has quickly re-established his presence in digital finance.
Earlier this year, he made headlines with his first major post-Binance crypto investment through YZi Labs, a venture firm focused on emerging blockchain technologies.
Beyond the crypto world, CZ has also launched Giggle Academy, a nonprofit digital learning platform aimed at students from grades one through twelve.
He described the initiative as “the most impactful thing I could do with my life,” underscoring a broader shift toward long-term, mission-driven projects.
CZ’s advisory role lends international credibility to Pakistan’s ambitions in digital finance, aligning it with forward-looking jurisdictions like Singapore and the UAE.
His appointment comes shortly after he signed an MoU with Kyrgyzstan’s National Investment Agency to support blockchain infrastructure and education.
Across these efforts, CZ continues to work with global governments to shape regulatory frameworks and foster secure, inclusive crypto ecosystems.
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