Global Developments in Cryptocurrency Adoption and Regulation

Pakistan is taking significant steps towards cryptocurrency adoption, with Bilal Bin Saqib, chairman of the Virtual Asset Regulatory Authority, stating that Bitcoin and digital assets are envisioned as the backbone of a new financial rail for the country's 240 million citizens.

During the Bitcoin MENA Conference in Abu Dhabi, Saqib emphasized that Pakistan cannot rely on traditional economic models and must innovate, citing the potential of digital assets as foundational infrastructure.

He highlighted Pakistan's ranking as the third in Chainalysis' 2025 Global Crypto Adoption Index and announced plans for a strategic Bitcoin reserve and regulatory frameworks to attract foreign investment.

In contrast, Mexico's central bank, Banxico, has expressed caution regarding stablecoins, warning that fragmented global regulations could expose them to significant financial risks. While acknowledging the benefits of stablecoins in improving settlement efficiency and supporting remittances, Banxico emphasized a careful stance toward digital assets amid regulatory gaps that could incentivize arbitrage.

Despite Mexico's lower crypto adoption ranking, falling to 23rd place in the Chainalysis index, other Latin American countries like Brazil and Argentina are advancing their crypto regulatory frameworks, contrasting Mexico's reliance on its 2018 Fintech Law.