Senator blocked from introducing crypto bill

Senator Dr. Afnan Ullah Khan was prevented from introducing the Virtual Assets Bill 2025 in the Upper House of Pakistan’s Parliament on Monday.

The Senate has postponed the Virtual Assets Bill 2025 after Law Minister Azam Nazeer Tarar argued that only the federal government has the constitutional authority to propose such legislation.

Following his statement, the Deputy Chairman of the Senate delayed the bill, leaving its future uncertain unless the federal government decides to formally present it for further discussion.

The Virtual Assets Bill 2025 aims to regulate the issuance, use, and trading of virtual assets in Pakistan. One of the main proposals in the bill is the introduction of a Digital Rupee, which would be backed by the Pakistani Rupee (PKR).

The bill also includes plans to create virtual asset zones to ensure financial stability and protect investors. Additionally, it seeks to establish a legal framework to recognize the Digital Rupee as an official and authorized form of legal tender.

This proposed legislation is part of Pakistan’s efforts to adapt to the growing digital economy and regulate virtual assets, which have become increasingly popular worldwide.

However, the bill’s delay has raised concerns about its future and how the government will proceed with its plans for digital currency and asset regulation. Until the federal government takes further action, the bill remains in a state of uncertainty.