Federal Minister for Finance and Revenue Senator Mohammad Aurangzeb met with a delegation from iCon Technology Inc., led by the company’s Chairman and CEO, Chet Silvestri.
According to sources, during the meeting, the Finance Minister briefed the delegation on the Government of Pakistan’s ongoing efforts to develop a structured and responsible framework for digital assets. He informed the delegation about the progress towards the establishment of the Pakistan Crypto Council and the Pakistan Virtual Assets Regulatory Authority, highlighting the importance of these steps for market development, financial inclusion, transparency, and consumer protection.
Sources said the Finance Minister also discussed Pakistan’s increasing participation in global digital asset activities and expressed the government’s commitment to creating a regulated environment that promotes innovation and investment while ensuring consumer protection. He emphasized that, given the growing use of digital assets, regulation is essential to maintain a balance between opportunities and risks. The policy framework aims to align with global best practices and create coordination among all regulators, including the State Bank of Pakistan, to facilitate orderly market development.
iCon Technology CEO Chet Silvestri shared experiences from the US and Canadian markets, explaining how clear regulations have enabled traditional financial institutions to work with digital assets within existing frameworks. He outlined technologies that help banks securely connect with exchanges and provide digital services to users through familiar banking applications.
The delegation highlighted the importance of blockchain technology and stablecoins, noting that Pakistan’s young and tech-savvy population is already using digital assets, and integrating them into the formal banking system is essential. The meeting also discussed iCon Technology’s interest in Pakistan and opportunities to collaborate with local partners.
The Finance Minister suggested that continuous engagement with interested banks and regulators like the State Bank would be a constructive first step. He reiterated that Pakistan is at a critical stage of building its digital asset ecosystem and welcomes knowledge exchange and responsible investment in this regard.
The iCon Technology delegation included the company’s advisor Lieutenant General (R) Terry Rubling, Tech Access CEO Mahmood Azhar Jabar, and CTO Tariq Hafeez Malik.
