Changpeng Zhao (CZ) Appointed Advisor to Pakistan’s Crypto Regulator

Former Binance CEO Changpeng “CZ” Zhao has been appointed as an advisor to the newly established Pakistan Crypto Council. His role is to provide guidance on regulation, infrastructure development, and the promotion of blockchain solutions.

High-Profile Appointment Confirmed

The appointment was confirmed by Pakistan’s Ministry of Finance, Bloomberg reported on April 7. The council that Zhao joined was created to form a strategic approach to digital assets in the country.

“It’s an honor to help Pakistan embrace crypto,” CZ wrote on X.

Zhao later noted that despite full internet coverage, around 20 million children in Pakistan lack access to basic education. He suggested that this issue could be addressed through Giggle Academy, a nonprofit educational project he founded earlier. The platform focuses on free online learning for underprivileged children and may be integrated into the country’s digital infrastructure.

Zhao’s appointment comes in the wake of his resignation as Binance CEO in November 2023 after pleading guilty in a U.S. anti-money laundering case. He was later sentenced to four months in prison.

Pakistan Steps Off the Sidelines

According to Pakistan Crypto Council head Bilal bin Saqib, the country aims to develop a clear regulatory framework for cryptocurrency and Web3.

“Pakistan will no longer sit on the sidelines. We want to attract international investment because we’re cheap, fast, and have local talent,” he emphasized.

The strategy focuses on the local market and global diaspora connections. There is growing interest in digital assets in Pakistan, particularly as a hedge against the depreciation of the rupee.

Crypto as an Alternative to the Black Market

According to Fitch Solutions, late 2024 saw a spike in official remittances to Pakistan, coinciding with a crackdown on shadow operations in the currency market. This strengthened the role of digital assets, especially stablecoins, in everyday life.

A 2024 Chainalysis report ranked Pakistan among the global leaders in crypto adoption. Key drivers included retail users and activity on centralized exchanges (CEX).

A survey showed that 33% of investors in Pakistan use cryptocurrency as protection against inflation. A Bitget study confirmed that 46% of users in South Asia value digital assets for their speed and ease of transactions.

CZ’s Second Advisory Role

This is not Zhao’s first advisory role since leaving Binance. He previously became an advisor to Vana, a startup operating at the intersection of crypto and artificial intelligence (AI).

The project is backed by YZi Labs (formerly Binance Labs), which invested an undisclosed amount. Vana builds decentralized data storage systems and focuses on the concept of user control over personal data.

With both appointments, Zhao maintains an active role in the industry despite recent legal challenges.

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