Pakistan Proposes Unified Crypto Industry Body to Enhance Investor Protection

ISLAMABAD: In response to a recent multibillion-dollar cybersecurity breach involving Binance, a unified industry representative body for Pakistan’s cryptocurrency sector has been proposed to better protect digital asset investors and improve coordination with international exchanges, according to Hinza Asif, President of the Asia Web3 Alliance Japan (AWAJ).

Asif emphasized that the absence of verified investor data and a structured mechanism to represent industry stakeholders poses significant challenges for the burgeoning cryptocurrency market in Pakistan. She highlighted that the country ranks third in the 2025 Global Crypto Adoption Index compiled by Chainalysis, with estimates suggesting around 40 million crypto-linked accounts and a digital asset exposure ranging from $10 billion to $20 billion, although these figures remain unverified.

The recent cybersecurity incident involving Binance underscores the potential risks for investors, including financial losses and unauthorized transactions. Asif’s call for a unified body aims to mitigate these risks and enhance the overall security and reliability of the cryptocurrency market in Pakistan, which is rapidly gaining traction.

Looking ahead, stakeholders in the cryptocurrency sector are expected to convene to discuss the formation of this representative body, which could play a crucial role in establishing a safer environment for investors and fostering international collaboration.