Pakistan Crypto Council (PCC) Chief Executive Officer Bilal Bin Saqib has stepped down as special assistant to the prime minister on blockchain and cryptocurrency, it emerged on Tuesday.

He continues to serve as the chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA).

A notification from the Cabinet Division, signed October 13, said Prime Minister Shehbaz Sharif accepted Saqib’s resignation from the position with effect from August 21.

He was appointed to the role on May 26, with the status of a minister of state.

Saqib was appointed the PVARA chairman with the status of a minister of state on a pro bono basis for three years on August 1.

PVARA is an autonomous federal body governed by a multi-stakeholder board including the governor of the State Bank of Pakistan, the chairman of the Securities and Exchange Commission of Pakistan and the chairman of the Federal Board of Revenue. Its mandate is to curb illicit finance, protect consumers and unlock opportunities in fintech, remittances and tokenised assets, while fostering Shariah-compliant innovation through regulatory sandboxes.­

According to Forbes, Saqib — who is part of their ‘30 under 30’ list — is the cofounder of Tayaba, which the publication describes as “a social enterprise that aims to provide solutions to the water crisis in Pakistan”.

He also received his MBE in 2023 for contributions to the UK’s National Health Service, the statement added.

An MBE, which stands for “Member of the Most Excellent Order of the British Empire”, is awarded for an outstanding achievement or service to the community which has had a long-term, significant impact.