On March 20, Bilal bin Saqib, the CEO of the Pakistan Cryptocurrency Council, said that Pakistan plans to become a leader in blockchain finance and attract international investment by regulating cryptocurrencies. Pakistan is planning to establish a legal framework for cryptocurrencies to attract international investors to the Central Asian country. "Pakistan is no longer sitting on the sidelines; we want regulatory clarity; we need a legal framework that supports business." Earlier this month, Saqib was appointed as the chief advisor to the finance minister of Pakistan on cryptocurrency management. Blockchain analytics firm Chainalysis ranked Pakistan as the ninth highest in cryptocurrency adoption last year, and Saqib claims that Pakistan has up to 20 million cryptocurrency users.