Pakistan's Minister of State: Young Population Boosts Encryption Popularity, May Surpass Developed Countries

[Chain News] On July 27, Bilal Bin Saqib, the State Minister for Crypto Assets and Blockchain of Pakistan, stated in an interview that Pakistan's demographic structure is a major catalyst for the adoption of Bitcoin, enabling it to "leapfrog" ahead of developed countries. The Pakistani government will begin regulating crypto assets in November 2024. Pakistan has 40 million cryptocurrency wallets, making it one of the "top five" countries in terms of cryptocurrency adoption rate, which Bilal Bin Saqib attributes to the young demographic of Pakistan. "The median age in Pakistan is 20 years. With a population of 250 million, 70% are under the age of 30. If we consider the young people of Pakistan as a separate country, it would be the ninth or tenth largest in the world." He added: "Emerging markets will achieve breakthroughs in the adoption of these new technologies. Smaller countries are more likely to adopt Bitcoin as they are agile and can lead ahead of developed countries."