- IMF questions Pakistan’s plan to allocate electricity for crypto mining.
- Pakistan launches national Bitcoin reserve and digital wallet at Bitcoin Vegas.
- IMF demands a clear crypto legal framework amid energy and policy concerns.
The International Monetary Fund (IMF) has expressed concern over Pakistan’s plan to allocate 2,000 megawatts of electricity for Bitcoin mining and artificial intelligence (AI) data centers. The government has made this move during budget talks. On the other hand, it is in negotiations with the IMF for a new financial program.
IMF Demands Details on Pakistan’s Crypto Legal Framework
Pakistan has confirmed that it is forming its national Bitcoin reserve at the Bitcoin Vegas 2025 conference. The country set up a national Bitcoin wallet. Bilal bin Saqib, the crypto adviser to the Prime Minister, said that the country wants to develop into a center of digital finance and technology. He said that major initiatives in the energy sector would back the expansion of digital assets.
According to the local report, the IMF has responded very quickly to this announcement. Officials say it has asked the Finance Ministry to provide details on how the crypto policy is implemented and its legal basis. This is very worrying now, as Pakistan is already facing energy troubles and has restricted resources.
Reports from inside the Finance Ministry say that the IMF was excluded from the preparation of the new economic action plan. Also, there are no formal government policies for regulating cryptocurrency in place. There is no currently clear plan for setting electricity rates and distributing power. The IMF has reportedly informed Pakistan that any important reforms taken under the Extended Fund Facility (EFF) must be agreed upon with the Fund.
For this reason, such a plan could make the negotiations even more complex. The official said there is a worry that the IMF may demand tougher measures for this plan. The IMF team, which is virtually meeting with Pakistani officials, is planning to have a separate session to discuss this topic.
Finance Ministry Yet to Address IMF Concerns on Crypto Policy
Despite the controversy, Pakistan is continuing its digital shift. On May 21, the creation of the Pakistan Digital Asset Authority (PDAA) was given the green light by the Finance Ministry. It will be responsible for overseeing crypto exchanges, wallets, stablecoins, and decentralized finance (DeFi) platforms. Additionally, the Pakistan Digital Asset Authority (PDAA) will oversee the tokenisation of all public assets and government debt. As a result, this move is expected to bring Pakistan’s crypto practices in line with global standards. Specifically, it aligns with regulatory frameworks established by international bodies such as the Financial Action Task Force (FATF).
At Bitcoin Vegas 2025, Bilal bin Saqib said PDAA ensures investor protection and boosts nationwide digital access. He asked foreign investors to consider joining Pakistan’s digital growth. Many people worldwide took an interest in the event, and it was attended by JD Vance and Donald Trump’s sons.
But the Finance Ministry has not published a statement officially addressing the concerns raised by the IMF. Reports say that the government is moving with care since it is unclear how crypto assets are legally regulated in Pakistan.
Overall, Pakistan’s enterprising move into the digital world has gained attention, yet it causes uncertainty about regulatory rules and budgeting. When discussing with the IMF, the government has to focus on both new ideas and the stability of the economy.
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