Pakistan calls for unified global framework for digital assets

ISLAMABAD: Pakistan has called for the immediate establishment of global regulatory and institutional frameworks to govern digital assets and shape the next generation of international finance. Speaking virtually at a United Nations briefing on Saturday, Minister of State and Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib urged member states to build the institutional structures necessary to manage next-generation finance. He noted that coordinated governance is essential to ensure these financial innovations drive economic inclusion and efficiency.

Held at the United Nations headquarters, the session on “Digital Assets and Blockchain for Sustainable Development: Advancing Digital Finance through Innovation” was convened by the Permanent Mission of Pakistan to the United Nations in collaboration with UNDP, UNCTAD and the Office of the Secretary-General’s Envoy on Technology, bringing together Member States, UN entities and private-sector stakeholders. PVARA chief tells UN governance key to equitable growth The PVARA chief stated digital assets, tokenisation and distributed ledger technologies present emerging economies with an opportunity to rethink financial infrastructure around inclusion, efficiency and access. He emphasised that emerging technologies such as tokenisation and distributed ledgers offer a critical opportunity to modernise global financial infrastructure and cooperation on global finance. “The question before this room is not whether these technologies will scale. They will. The question is: who will shape them, and in whose interest? ” he asked. Mr Saqib placed ordinary people at the centre of the debate, pointing to the 1. 4 billion adults globally who remain outside the formal financial system, alongside billions more…