Changpeng "CZ" Zhao, Binance's previous CEO, has been appointed as an advisor to Pakistan's newly formed Crypto Council—a regulatory body tasked with regulating the country's integration of blockchain technology and digital assets.

Pakistan’s finance ministry confirmed the appointment, which was also reported by Bloomberg on April 7. According to the report, Zhao will provide strategic guidance on cryptocurrency regulation, infrastructure development, and adoption.

Source: Business Recorder

Zhao is a prominent figure in the crypto world, having led Binance from 2017 until 2023. He stepped down in November 2023 after pleading guilty to charges involving violations of U.S. anti-money laundering laws and was subsequently sentenced to four months in prison.

Zhao’s addition to the council marks a significant move for Pakistan, potentially boosting the country's appeal to international investors in a sector that’s becoming increasingly vital to its economic strategy.

The appointment, confirmed by the Finance Ministry, came after Zhao's meetings with key government officials in Islamabad, including the Finance Minister, the Governor of the State Bank of Pakistan, and the Chairman of Pakistan's Securities and Exchange Commission.

This collaboration is expected to provide valuable guidance as Pakistan seeks to create a compliant and competitive crypto ecosystem, attract foreign investment, and position itself as a regional leader in Web3 and digital finance.

Zhao himself expressed optimism about Pakistan's potential, citing its large and youthful population as a key advantage in embracing the future of finance.