IMF Grills Pakistan Over Sudden Bitcoin Embrace—What’s the Real Play?

The International Monetary Fund isn’t buying Pakistan’s crypto enthusiasm without receipts. Fresh off Islamabad’s surprise Bitcoin endorsement, global bureaucrats demand answers—and they’re not asking nicely.

Behind closed doors: Sources hint at IMF skepticism over Pakistan’s ability to regulate volatile crypto markets while juggling a $6 billion bailout. Because nothing says ‘financial stability’ like adopting an asset class that swings 20% before breakfast.

The subtext: This smells like a desperate gambit to attract crypto capital after years of economic mismanagement. But hey—when your currency’s in freefall, why not YOLO into decentralized finance? At least the blockchain won’t ask for its money back.

IMF raises concerns over Pakistan’s latest move

During the launch, Saqib mentioned that the development is expected to open doors to several entities, including autonomous miners, technology firms, and blockchain companies to invest in Pakistan. However, the IMF frowned at the announcement, with the body seeking clarification from the Finance Minister over the legality of the MOVE and the electricity allocation, even in the face of constant energy shortages and fiscal constraints.

According to sources inside the Finance Ministry, the decision was taken without consulting the IMF and has raised questions over the legal status of digital assets in Pakistan. The government has yet to respond to the IMF’s concerns about electricity tariffs and resource distribution.

The IMF representative also declined to comment when asked to. However, the source said that the body has mentioned that all policy steps under the Extended Fund Facility (EFF) must be carried out in consultation with it.

“There is a fear of further tough talks from the IMF on this initiative,” an official involved in the negotiations said. “The economic team is already facing stiff questions, and this move has only added to the complexities of the ongoing talks.”

The IMF delegation, currently locked in VIRTUAL talks with Pakistani officials, is expected to hold a private session to discuss the government’s plan to provide electricity for Bitcoin mining and artificial intelligence data centers.

Formation of new digital asset authority underway

The new policy decision is part of a bigger government strategy to include digital assets in the country’s economy. An important aspect of this plan is the creation of the Pakistan Digital Asset Authority (PDAA), as approved by the Finance Ministry.

The body will be tasked with regulating crypto exchanges, wallets, stablecoins, and decentralized finance (DeFi) platforms. It will also be in charge of the tokenization of national assets and debt, aligning the country’s crypto policies with international standards set by the Financial Action Task Force (FATF).

During the event, Bilal bin Saqib also urged global investors to join Pakistan’s digital shift, urging them to come and invest in the country’s growing ecosystem. “The PDAA is a critical step in protecting global investors and formalizing Pakistan’s role in the digital economy,” Bilal bin Saqib noted.

The event was attended by prominent figures, including United States Vice President JD Vance and Eric and Donald TRUMP Jr., the sons of United States President Donald Trump.

Pakistan began to shift its previous stance on digital assets earlier this year with the proposal of a “National Crypto Council” in February 2025. The body was tasked with drawing up a comprehensive regulatory framework for digital assets and attracting foreign investments into the country’s crypto ecosystem.

Among the early proposals of the council was the use of surplus energy for Bitcoin mining and artificial intelligence data center operations.

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