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Pakistan announces Bitcoin strategic reserve

Bilal Bin Saqib, head of Pakistan’s crypto council, announced on May 28 that the country is moving to establish a strategic Bitcoin reserve.

Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Saqib said the government of Pakistan followed the United States’ lead in establishing a Bitcoin strategic reserve and is embracing pro-crypto regulatory policies. The government official told the audience:

“Today is a very historic day. Today, I announce the Pakistani government is setting up its own government-led Bitcoin Strategic Reserve, and we want to thank the United States of America again because we were inspired by them.”

The announcement represents a significant departure from the government of Pakistan’s previous stance on cryptocurrencies, holding that crypto would never be legal in the country.

Pakistan’s shift reflects the broader trend of nation-states adopting pro-crypto policies following the regulatory shift in Washington, DC under the President Donald Trump administration.

Government, Bitcoin Reserve, Bitcoin2025
Bilal Bin Saqib at the Bitcoin 2025 conference announcing a Bitcoin strategic reserve. Source: Cointelegraph

Related: Pakistan appoints special assistant to PM on blockchain and crypto

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US Senate to vote on bill to reopen gov’t with crypto bill in limbo

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US Senate to vote on bill to reopen gov’t with crypto bill in limbo

The shutdown of the US government entered its 38th day on Friday, with the Senate set to vote on a funding bill that could temporarily restore operations.

According to the US Senate’s calendar of business on Friday, the chamber will consider a House of Representatives continuing resolution to fund the government. It’s unclear whether the bill will cross the 60-vote threshold needed to pass in the Senate after numerous failed attempts in the previous weeks.

Amid the shutdown, Republican and Democratic lawmakers have reportedly continued discussions on the digital asset market structure bill. The legislation, passed as the CLARITY Act in the House in July and referred to as the Responsible Financial Innovation Act in the Senate, is expected to provide a comprehensive regulatory framework for cryptocurrencies in the US. 

Although members of Congress have continued to receive paychecks during the shutdown — unlike many agencies, where staff have been furloughed and others are working without pay — any legislation, including that related to crypto, seems to have taken a backseat to addressing the shutdown.

At the time of publication, it was unclear how much support Republicans may have gained from Democrats, who have held the line in demanding the extension of healthcare subsidies and reversing cuts from a July funding bill.

Related: Senate Democrats demand answers on Trump’s pardon of Binance’s CZ