China urges restraint, Riyadh and Tehran offer help to mediate Pakistan-India conflict

ISLAMABAD: Bilal Bin Saqib, Pakistan’s minister for crypto and blockchain and the CEO of the Pakistan Crypto Council (PCC), unveiled the country’s first government-led strategic bitcoin reserve at Bitcoin Vegas 2025, his office said on Thursday.

The strategic bitcoin reserve is a reserve asset, funded by the United States Treasury’s forfeited bitcoin, announced by President Donald Trump in March 2025. The reserve will be capitalized with bitcoin already owned by the federal government. The United States is the largest known state holder of bitcoin in the world, estimated to hold about 200,000 BTC, as of March 2025.

At Bitcoin 2025, the biggest bitcoin conference in the United States which is underway in Las Vegas, Saqib unveiled “the country’s first government-led Strategic Bitcoin Reserve, and with it, a radically new vision of Pakistan on the global map,” his office said in a statement. 

“Bilal announced the establishment of a national Bitcoin wallet, holding digital assets already in state custody — not for sale or speculation, but as a sovereign reserve signaling long-term belief in decentralized finance.”

Pakistan set up the PCC in March, with Saqib, 34, as the CEO, to create a legal framework for cryptocurrency trading in a bid to lure international investment. Last month, Pakistan introduced its first-ever policy framework, created by a special government group under the Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) authority, to set rules for how digital money like cryptocurrencies and the companies that deal in it should operate in Pakistan. The policy has been formulated to align with compliance and financial integrity guidelines of the global Financial Action Task Force (FATF).

Earlier this month, the government also approved setting up the Pakistan Digital Assets Authority (PDAA), a specialized regulatory body to oversee blockchain-based financial infrastructure.

Speaking during his keynote at Bitcoin 2025, the PCC CEO highlighted that Pakistan had over 40 million crypto wallets, a median age of 23, and one of the largest and most active freelancer economies in the world.

“Saqib revealed that the government of Pakistan has allocated 2,000 megawatts of surplus electricity in Phase 1 for Bitcoin mining and AI data centers, opening doors to sovereign miners, tech firms, and clean energy partners around the world,” the statement said. 

Saqib is also leading the creation of the Pakistan Digital Assets Authority (PDAA) “to empower builders, protect investors, and formalize digital finance frameworks for the future.”

“This wasn’t just a policy moment, it was a rebranding of a nation,” Saqib said at Bitcoin 2025, which featured speakers including White House officials, US lawmakers and crypto industry executives. This year’s keynote speaker was US Vice President JD Vance.

Digital assets have enjoyed a resurgence under President Trump, who courted cash from the crypto industry on the campaign trail by pledging to be a “crypto president.” In his first week in office, Trump ordered the creation of a cryptocurrency working group to propose digital asset regulations. In March, he hosted a group of crypto executives at the White House.

Congress is considering legislation to create a regulatory framework for stablecoins, a type of cryptocurrency pegged to the US dollar. The crypto industry has lobbied lawmakers to pass legislation creating new rules for digital assets and spent more than $119 million backing pro-crypto congressional candidates in last year’s elections.

ISLAMABAD: Amnesty International along with four other human rights organizations on Wednesday wrote to the Pakistani prime minister, calling for an end to the “harassment and arbitrary detention” of Baloch human rights defenders (HRDs) exercising their rights to freedom of expression and peaceful assembly, particularly in Balochistan province. 

The letter comes in the wake of Dr. Mahrang Baloch, one of the leading campaigners for the Baloch minority and the leader of the Baloch Yakjehti Committee (BYC), and a number of other activists, being arrested in March on charges of terrorism, sedition and murder.

Security forces are battling a growing insurgency in Balochistan, an impoverished province that borders Afghanistan and Iran. Rights groups say the violence has been countered with a severe crackdown that has swept up innocent people. Authorities deny heavy handedness.

“All five organizations — Amnesty International, Asian Forum for Human Rights and Development (FORUM-ASIA), Front Line Defenders, International Federation for Human Rights, World Organization Against Torture — appeal to Pakistan’s Prime Minister to release Baloch human rights defenders and end the crackdown on dissent in line with Pakistan’s international human rights obligations,” Amnesty Internation said on X, sharing a copy of the joint letter.

The joint letter called on the government to take the following steps:

Immediately and unconditionally release all Baloch HRDs and their family members “arbitrarily detained solely for peacefully exercising their rights in line with the right to liberty and safety”; drop all charges against them; pending their release, ensure the safety of HRDs and family members, including by sharing accurate information about their whereabouts, providing effective access to family members, legal counsel and medical treatment; conduct a thorough, impartial, effective and transparent investigation into the allegations of torture and mistreatment by Pakistani authorities of Baloch HRDs under detention; end the crackdown against HRDs, journalists, protesters and dissidents by ensuring their right to freedom of expression and peaceful assembly are fully protected; cease all forms of reprisals against family members of HRDs; and conduct an “effective, prompt, thorough and impartial investigation into the unlawful use of force” against protesters including Dr. Baloch on March 21 in Quetta and bring those suspected of responsibility to justice through fair trials.

Activists say in the crackdown against militancy in Balochistan, authorities have harassed and even carried out extrajudicial killings of Baloch civilians. Pakistani authorities reject the “baseless allegations.”

A dozen UN experts called on Pakistan in March to immediately release Baloch rights defenders, including Dr. Baloch, and to end the repression of their peaceful protests. UN special rapporteur for human rights defenders Mary Lawlor said she was “disturbed by reports of further mistreatment in prison.”

Balochistan is the site of a long-running separatist movement, with insurgent groups accusing the state of unfairly exploiting Balochistan’s rich gas and mineral resources. The federal and provincial governments deny this, saying they are spending billions of rupees on the uplift of the province’s people.