Rumours that the crypto ministry was shutting down started circulating on WhatsApp on Tuesday. “The crypto developments for Pakistan are still ongoing and the minister is speaking at Binance Blockchain Week on Wednesday, December 3, in Dubai,” said a staffer informed of the changes.
Saqib had to resign because the Rules of Business 1973 say that you cannot be an SAPM if you are the chairman of a statutory regulatory authority such as the Pakistan Virtual Assets Regulatory Authority.
A copy of the resignation was acquired by The Express Tribune.
Saqib was appointed Special Assistant to the Prime Minister on Blockchain and Crypto with the status of Minister of State in May 2025. He has been leading Pakistan’s national blockchain strategy and helped with the establishment of the regulatory authority of which he is currently chairman.
The Pakistan Crypto Council, formally established earlier this year, continues to operate as a national force for crypto policy, innovation, youth empowerment, and international engagement in crypto and blockchain.
Pakistan is home to over 50 million crypto users, with an annual trading volume exceeding $300 billion. The country consistently ranks in the top 5 globally for crypto adoption, reflecting its strong grassroots engagement with digital assets. Out of a population of 240 million, 70% of Pakistanis are under the age of 30.
Pakistan boasts a highly favorable demographic for widespread crypto adoption, making it one of the most promising emerging markets for blockchain and digital finance innovation. Pakistan is also the third-largest freelancer market in the world, showcasing its dynamic and entrepreneurial digital workforce.
Who is Bilal Bin Saqib?
A London-based entrepreneur, Bilal Bin Saqib has been at the forefront of digital innovation and social impact. Recognized by King Charles III, the late Queen Elizabeth II, and the Mayor of London, Saqib’s work spans across blockchain technology, crypto investments, and social entrepreneurship.
In 2023, he was awarded an MBE (Member of the British Empire) for his humanitarian efforts during the COVID-19 pandemic, during which he led the One Million Meals initiative, delivering over 100,000 meals to NHS staff and vulnerable populations across the UK.
His academic credentials include a Master’s in Social Innovation and Entrepreneurship from the London School of Economics (LSE). He also received the 1632nd Points of Light Award, a recognition granted by the British Prime Minister to individuals making outstanding contributions to their communities.
Beyond his work in fintech, Saqib co-founded Tayaba, a social enterprise focused on Pakistan’s water crisis, introducing the H2O Wheel, an innovative water transportation device designed to ease the burden on rural communities.