[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [ACTIVE] · [BUSINESS]

6 clusters · 22 sources · 21 days · First seen · Last updated

Pakistan virtual asset regulatory framework

Overview

Pakistan has transitioned from a decade-long prohibition of cryptocurrencies to a formal regulatory framework through the enactment of the Virtual Assets Act, 2026. The Pakistan Virtual Assets Regulatory Authority (PVARA) has introduced the Licensing Regulations, 2026, to integrate virtual assets into the formal economy and protect consumers.

Under these rules, existing virtual asset service providers (VASPs) are classified as “transitional persons” and must apply for a No Objection Certificate (NOC) by a September 5, 2026, deadline. Failure to meet this deadline is a criminal offense under Section 70 of the Act. While Binance and HTX are the only firms publicly confirmed to have secured early NOCs, PVARA has since received 70 license applications from local and international companies within six months of the law passing Parliament.

To ensure religious alignment, the government is establishing a Shariah Advisory Board and consulting with the Grand Mufti of Pakistan to provide guidance on digital assets. Additionally, authorities aim to leverage digital remittances to reduce transaction costs from the current 6.5% by one percentage point, a move estimated to save approximately $410 million and increase the volume of funds entering the country.

PVARA Chairman Bilal Bin Saqib has reported that approximately 40 million Pakistanis hold cryptocurrency accounts. He noted that the national virtual asset market is estimated at roughly $250 billion, with $10 billion to $20 billion currently invested within the country. To prevent capital flight, authorities are considering taxation rates that avoid the “high 30% tax seen in India.”

Entities

Bilal Bin Saqib · Pakistan Virtual Assets Regulatory Authority · Pakistan · Binance · Pakistan Virtual Asset Regulatory Authority

Timeline

  1. 1 day ago

    [BUSINESS] 2 sources
    Pakistan seeks Shariah guidance for digital assets as crypto license applications rise

    Pakistan is seeking Shariah guidance for digital assets and has received 70 license applications from global and local firms, including Binance, as it develops its new regulatory framework.

  2. 6 days ago

    [BUSINESS] 2 sources
    Pakistan PVARA crypto registration deadline expires today

    Pakistan's PVARA deadline for crypto service providers to file a No-Objection Certificate expires today, September 5, 2026, to avoid criminal penalties and immediate service shutdowns.

  3. 11 days ago

    [BUSINESS] 4 sources
    Pakistan crypto accounts reach nearly 40 million

    Pakistan's PVARA Chairman Bilal bin Saqib reports that 40 million citizens hold crypto accounts, making Pakistan a major global market. New regulations and registration deadlines are being implemented.

  4. 14 days ago

    [BUSINESS] 2 sources
    Pakistan pursues strategic Bitcoin reserve and digital asset regulations

    Pakistan is pursuing a strategic Bitcoin reserve and implementing a new regulatory framework for virtual assets, including mandatory licensing for service providers and exploring bond tokenization.

  5. 19 days ago

    [BUSINESS] 8 sources
    Pakistan sets September 5 deadline for crypto licensing

    Pakistan's PVARA has set a September 5 deadline for crypto firms to apply for regulatory clearance or cease operations, marking a shift toward formal digital asset supervision.

  6. 21 days ago

    [BUSINESS] 7 sources
    Pakistan launches virtual asset licensing regime

    Pakistan has launched a formal cryptocurrency licensing regime via PVARA, requiring existing providers to secure a No Objection Certificate by September 5, 2026, to continue legal operations.

Sources

arabnews.pk · arynews.tv · bitcoinethereumnews.com · bitcoinmagazine.com · bittimes.net · blockchainseoul.kr · blocktempo.com · coingape.com · cointelegraph.com · customstoday.com.pk · dailytimes.com.pk · decrypt.co · detlionblood32.wordpress.com · digitalphablet.com · en.dailypakistan.com.pk · flare.pk · fxdailyreport.com · newsbit.nl · pakbanker.com · techjuice.pk · theneutral.pk · tokenpost.kr

This summary has been updated 4 times: see revision history