Pakistan has opened its doors to international cryptography exchanges and suppliers of virtual asset services by inviting them to request licenses to operate under their newly formed regulatory authority.
The Virtual Assets Regulatory Authority of Pakistan (PVARA), created under the 2025 virtual asset ordinance, issued a call for expressions of interest this Saturday of companies that already operate in other important jurisdictions.
With more than 40 million users and an estimated $ 300b in annual negotiation volume, the Pakistan virtual asset market shows rapid growth, but so far it has remained largely unregulated.
The authorities say that the licenses unit aims to stop illicit finances while providing a stable framework for Fintech innovation.
Pakistan points to international confidence companies for their new cryptographic regime
Pvara wants requesting companies to already have prominent regulatory licenses such as the US SECs, the United Kingdom’s financial behavior authority, the EU VASP Marco Vasp, the Virtual Assets Regulatory Authority of the EAU or the Singapore monetary authority.
Bin Saqib, CEO of the Pakistan Crypto Council, told Cryptonews in a previous interview that the cost of doing business in the country is much cheaper than elsewhere.
“We have access to incredible talent. We are in a very strategic location. For Blockchain and Crypto, what you need is a great human resource,” he said.
The presentations must include detailed profiles of the company, license information from other jurisdictions, trace compliance records, especially in money laundering, anti -terrorist financing and knowledge standards of its customers. Applicants must also define their proposed business model to operate in Pakistan.
Applications accepted based on transmission for greater flexibility
The licenses also includes regulatory sandboxes to promote innovation, including products that comply with the Shariah law. Pvara said that these measures will align the Virtual Assets sector of Pakistan with international standards established by institutions such as the Financial Action Task Group, the IMF and the World Bank.
Applications will be accepted continuously by email, giving flexibility to the companies eligible to send when ready.
The Ordinance of Virtual Assets entered into force on July 8, 2025, establishing Pvara with the power to license, regulate and supervise suppliers of virtual asset services in Pakistan.
The Pvara Governing Board includes heads of key institutions such as the State Bank of Pakistan, the stock exchange and securities commission, and the Federal Income Board. It must guarantee strong cybersecurity and consumer protection frameworks together with the prevention of illicit financial flows.
Policy support and infrastructure development gain impulse
Officials describe this as a fundamental step to integrate the digital asset economy of Pakistan with global financial practices while offering legal clarity to investors and consumers.
Earlier this year, Pakistan increased his commitment to cryptographic regulation by launching the Pakistan Crypto Council, appointing the founder of Binance Changpeng Zhao as a strategic advisor and working to create infrastructure and political support.
As the regulatory framework is established, the Government expects this license regime to indicate stability to foreign investors while providing pachyst and safer and regulated options for users.
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