“Licensees must follow strict operational and security standards safeguarding customer funds, maintaining robust cybersecurity, providing clear disclosures, and ensuring transparent business practices,” PVARA said in an announcement.
The licensing rules set out under the Virtual Assets Act 2026 cover 11 types of crypto-related activity, including custody, exchange, broker-dealer and derivatives.
The registration process continues progress towards formal regulation of digital assets, following the State Bank of Pakistan