ISLAMABAD – The Virtual Assets Alliance of Pakistan (VAAP) has been formally established to promote investor protection, public awareness and cybersecurity in the country’s growing virtual assets industry.
The announcement was made during a press conference in Islamabad, where the alliance’s leadership outlined its objectives and future plans.
Hunza Asif, founder of the Asia Web3 Alliance Japan, has been appointed as the alliance’s first chairperson, while HTX Country Manager Syed Ehtisham Hamdani will serve as senior vice chairman.
Speaking at the event, Hamdani said Pakistan ranked third globally in cryptocurrency adoption indicators. However, he clarified that claims suggesting the country had around 20 million crypto users remained unverified, as independently confirmed figures were not available.
He said one of the alliance’s key priorities would be to collect reliable data about cryptocurrency users in Pakistan to develop a clearer understanding of the market.
The alliance aims to educate investors about virtual assets, strengthen cybersecurity awareness and encourage transparent and responsible practices across Pakistan’s digital asset industry.
Hamdani added that the organisation would work to bring international industry experience to Pakistan through independent research, collaboration with local institutions and engagement with industry experts.
He emphasised that VAAP would operate as an industry alliance rather than a regulatory body, clarifying that it had neither regulatory powers nor official government endorsement.
The organisation intends to encourage cooperation among relevant stakeholders and promote evidence-based policy discussions to support a more transparent, responsible and effective virtual assets ecosystem in Pakistan.
