Bilal Bin Saqib SAPM on Blockchain and Crypto
ISLAMABAD: In a surprising turn of events, Bilal Bin Saqib has stepped down from his position as the Special Assistant to the Prime Minister (SAPM) on Blockchain and Crypto, only months after his high-profile appointment. His resignation stems from a legal conflict between his advisory role in the federal government and his simultaneous position as chairman of Pakistan’s newly established Virtual Assets Regulatory Authority (VARA).
Bilal’s resignation was officially accepted by Prime Minister Shehbaz Sharif, marking an abrupt end to his tenure in a position that symbolized Pakistan’s first major push toward structured digital asset regulation. Despite the Cabinet Division updating its records to reflect his departure, the National Assembly’s official website still lists him as SAPM, creating confusion over his current designation.
Appointment Signaled a New Era for Pakistan’s Digital Economy
Earlier this year, Bilal Bin Saqib was appointed with the status of Minister of State, a move widely seen as a bold step toward modernizing Pakistan’s digital landscape. The appointment was made under Rule 4(6) of the Rules of Business 1973, and came at a time when the federal government was exploring ways to regulate and benefit from emerging technologies.
His addition expanded the federal cabinet’s strength to 61 members, a controversial increase given the government’s earlier claims of austerity and cost-cutting. The cabinet currently comprises 31 federal ministers, 11 ministers of state, nine special assistants, five advisers, and several coordinators.
Bilal’s arrival coincided with the Finance Ministry’s announcement in February about considering the establishment of a National Crypto Council. Soon after, he was appointed CEO of the Pakistan Crypto Council (PCC), further signaling the government’s strategic focus on digital assets.
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A Wide-Ranging Mandate in Blockchain, Web3, and Crypto Governance
As SAPM, Bilal Bin Saqib was entrusted with an ambitious mandate that included:
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Designing a FATF-compliant digital asset regulatory framework
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Launching state-backed Bitcoin mining initiatives
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Integrating blockchain into governance, finance, and land record systems
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Overseeing licensing and supervision of Virtual Asset Service Providers (VASPs)
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Promoting investor protection and Web3 ecosystem development
These responsibilities positioned him as the architect of Pakistan’s future digital assets ecosystem—a role few officials had ever held.
His appointment was welcomed by the tech community, fintech startups, and Web3 innovators who saw him as a young, educated, globally connected representative capable of pushing Pakistan toward digital advancement.
The Legal Conflict That Ended His Role as SAPM
However, his dual position soon became a legal complication.
Under Pakistani law, specifically the Rules of Business 1973, an individual cannot simultaneously serve as:
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A government adviser or SAPM, and
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The head of a national regulatory authority
When Bilal was later notified as Chairman of the Virtual Assets Regulatory Authority (VARA)—the body tasked with regulating Pakistan’s digital asset market—it triggered an unavoidable legal conflict.
As chairman, he holds regulatory powers over licensing, compliance, and enforcement. But as SAPM, he was also serving as a government policymaker. This overlap violated the principle of regulatory independence.
Realizing this conflict, Bilal submitted his resignation from the SAPM position, which the Prime Minister accepted.
Cabinet Division Updates, But NA Website Still Shows Him as SAPM
According to the Cabinet Division, Bilal Bin Saqib’s name has been formally removed from all lists of:
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Ministers of State
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Special Assistants to the Prime Minister
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Advisors
Despite this, the National Assembly’s website still displays him as SAPM with the status of Minister of State. This inconsistency has created public confusion and raised questions about administrative coordination between the Cabinet Division and Parliament’s Secretariat.
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Virtual Assets Regulatory Authority Now Functional
Even though his SAPM role has ended, Bilal continues to hold significant influence as the Chairman of the Pakistan Virtual Assets Regulatory Authority (VARA).
The authority has now become operational, and its regulatory rules—including licensing guidelines, risk-assessment protocols, compliance standards, and penalties—have reportedly been finalized.
VARA’s creation represents Pakistan’s first formal attempt to regulate digital assets, something long awaited by:
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Crypto exchanges
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Blockchain developers
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Fintech startups
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Cybersecurity firms
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Digital payment companies
With Bilal as chairman, the authority is expected to steer the country’s long-term crypto and blockchain strategy.
Impact of His Brief Yet Influential Tenure: Bilal Bin Saqib SAPM on Blockchain and Crypto
Though short-lived, Bilal’s tenure as SAPM played a crucial role in shaping conversations around Pakistan’s digital future. His appointment:
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Put crypto regulation formally on the federal agenda
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Accelerated development of a national blockchain framework
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Encouraged private-sector confidence in Web3 technologies
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Signaled Pakistan’s intention to regulate—not ban—digital assets
His resignation, however, raises new questions:
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Will the government appoint another SAPM for crypto and blockchain?
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Will crypto regulation slow down or continue at the same pace?
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How will VARA function independently without political backing?
Industry experts believe his continued role at VARA ensures that Pakistan’s digital asset roadmap will remain intact, even if advisory restructuring occurs at the government level.
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Conclusion
Bilal Bin Saqib’s dramatic exit as SAPM on Blockchain and Crypto highlights the complex interplay between policymaking and regulatory independence. While his advisory role has ended, his leadership of VARA positions him at the center of Pakistan’s evolving digital asset framework.
Pakistan’s crypto journey is still at an early stage, but the formation of VARA and the groundwork laid during Bilal’s tenure suggest that the country is moving steadily toward a regulated digital economy.
As Pakistan pushes forward with blockchain adoption, digital asset oversight, and Web3 innovation, Bilal’s policy contributions—although brief—may shape the nation’s regulatory landscape for years to come.
