Pakistan Crypto Council (PCC) Chief Executive Officer Bilal Bin Saqib has stepped down as special assistant to the prime minister on blockchain and cryptocurrency, it emerged on Tuesday.
He remains the chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA).
A notice from the Cabinet Division, dated October 13, announced that Prime Minister Shehbaz Sharif has accepted Saqib’s resignation from his position effective August 21.
He took on the position on May 26, holding the title of a minister of state.
Saqib was designated as the PVARA chairman with minister of state status for three years on a pro bono basis, effective August 1.
PVARA is an independent federal entity overseen by a diverse board consisting of the governor of the State Bank of Pakistan, the chairman of the Securities and Exchange Commission of Pakistan, and the chairman of the Federal Board of Revenue. Its mission is to combat illegal financing, safeguard consumers, and create opportunities in fintech, remittances, and tokenized assets, while promoting Shariah-compliant innovation via regulatory sandboxes.
Forbes reports that Saqib, featured in their ‘30 under 30’ list, is the cofounder of Tayaba, which the outlet defines as “a social enterprise focused on addressing the water crisis in Pakistan.”
According to the statement, he was awarded his MBE in 2023 for his contributions to the National Health Service in the UK.
An MBE, meaning “Member of the Most Excellent Order of the British Empire,” is granted for exceptional accomplishments or community service that has had a lasting, important influence.