Pakistan has opened its formal crypto regulatory regime, giving digital asset companies until Sept. 5 to register with the Pakistan Virtual Assets Regulatory Authority (PVARA).
Companies must apply for a no-objection certificate by the deadline or cease operations in the country.
The framework, established under the Virtual Assets Act 2026, covers 11 categories of crypto activity, including exchanges, custody, broker-dealer services and derivatives. Licensed firms will be required to meet standards for customer fund protection, cybersecurity, disclosures and operational transparency.
The move follows Pakistan’s April decision to allow banks to provide services to crypto companies after a seven-year restriction. Banks are still prohibited from directly investing in, trading or holding crypto assets themselves.
Companies must apply for a no-objection certificate by the deadline or cease operations in the country.
The framework, established under the Virtual Assets Act 2026, covers 11 categories of crypto activity, including exchanges, custody, broker-dealer services and derivatives. Licensed firms will be required to meet standards for customer fund protection, cybersecurity, disclosures and operational transparency.
The move follows Pakistan’s April decision to allow banks to provide services to crypto companies after a seven-year restriction. Banks are still prohibited from directly investing in, trading or holding crypto assets themselves.