Pakistan Opens Doors to Crypto with New Licensing Regime
Pakistan has launched its first formal regulatory framework for virtual assets, opening a licensing application portal for cryptocurrency exchanges and service providers on August 22 . The Pakistan Virtual Assets Regulatory Authority has given existing operators until September 5 to apply for a "No Objection Certificate" or cease their operations . This marks a significant shift from Pakistan's historically restrictive stance, with the Virtual Assets Act already passed by the Senate and signed by the President . Prime Minister's Special Advisor on Crypto Assets Bilal Bin Saqib publicly invited foreign crypto firms to enter the Pakistani market, stating that "Pakistan's doors are open" for businesses willing to obtain licenses and integrate with the banking system . Pakistan has also previously disclosed plans to establish a national strategic Bitcoin reserve and allocate 2000MW of surplus government power to Bitcoin mining and AI data centers . The move signals Pakistan's ambition to become a regional hub for digital asset innovation.
#GoldNearsThreeMonthHigh
Pakistan has launched its first formal regulatory framework for virtual assets, opening a licensing application portal for cryptocurrency exchanges and service providers on August 22 . The Pakistan Virtual Assets Regulatory Authority has given existing operators until September 5 to apply for a "No Objection Certificate" or cease their operations . This marks a significant shift from Pakistan's historically restrictive stance, with the Virtual Assets Act already passed by the Senate and signed by the President . Prime Minister's Special Advisor on Crypto Assets Bilal Bin Saqib publicly invited foreign crypto firms to enter the Pakistani market, stating that "Pakistan's doors are open" for businesses willing to obtain licenses and integrate with the banking system . Pakistan has also previously disclosed plans to establish a national strategic Bitcoin reserve and allocate 2000MW of surplus government power to Bitcoin mining and AI data centers . The move signals Pakistan's ambition to become a regional hub for digital asset innovation.
#GoldNearsThreeMonthHigh
