Islamabad: Senator Saleem Mandviwalla chaired the Senate Standing Committee on Finance and Revenue at Parliament House to discuss the “The Virtual Assets Bill.
The Committee deliberated on the Government Bill titled “The Virtual Assets Bill,2025”. The Bill aimed to regulate virtual assets following established International practices. It was also informed that the given Virtual Assets Authority will play a key role in combating money laundering,terror financing and other illicit activities. While thoroughly examining the bill, the Committee recommended that the Virtual Assets Authority should be placed under the Finance Division instead of Cabinet Division given the nature of the subject.
The Committee also set the upper age limit of 55 years with five experience in Digital Finance and Technology for appointment as Chairperson of the Authority.
After an extensive discussion,the Committee deferred the deliberations on the Bill till the next meeting.
Discussing the emolments of SECP, the Committee noted hefty increases and deferred the matter stating that it would seek input from the Federal Secretary of Finance and Revenue in the upcoming meeting.
In attendance were Senators Anusha Rahman Ahmad Khan,Dilawar Khan,Zeeshan Khanzada,Mohsin Aziz,Syed Faisal Ali Subzwari,Ahmed Khan,Shahzaib Durrani,Secretary for Law and Justice Raja Naeem Akbar,Executive Director State Bank of Pakistan Dr. Inayat Hussain,Special Secretary for Finance and Revenue Nasheeta Mohsin,Chairman SECP Alif Saeed and other concerned officials of relevant departments.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
