🇵🇰 One of Crypto’s Biggest Markets Is Leaving the Grey Zone Pakistan - one of the world’s most active crypto markets (top-3 by global adoption last year), has opened a formal licensing path for crypto firms 🔥 Existing companies now have to apply for a PVARA No Objection Certificate until September 5 (or stop operating in the country). The framework covers exchanges, custody, lending, derivatives, asset management, token issuance and even mining-related services. 📌 The NOC is only the first step though. Firms then need AML registration, a local entity and a full VASP licence. Banks can also open accounts for approved crypto companies - something Pakistan formally enabled in April after replacing its old 2018 restrictions. Looking at other major crypto $BTC markets, a few still stand out for unfinished regulation: 🇮🇳 India - in global crypto adoption, but still has no dedicated comprehensive crypto law; the market largely operates through tax, AML and FIU rules. 🇺🇸 US - still waiting for CLARITY to settle the federal market structure and the SEC/CFTC split. 🇺🇦 Ukraine - where the 2022 Virtual Assets law never entered into force and the new framework is still awaiting final parliamentary adoption. 🇻🇳 Vietnam - currently running crypto under a five-year pilot regime rather than a permanent market framework. 🇰🇷 South Korea - already has user-protection and AML rules, but its broader Phase 2 framework covering issuance, stablecoins and market structure is still being developed. #BTC Price Analysis# #Macro Insights# #Pakistan