Pakistan Seeks Crypto Exchange Licenses with New Regulatory Body
- Pakistan establishes the Pakistan Virtual Asset Regulatory Authority to regulate crypto exchanges.
- PVARA seeks partners to build a transparent digital future.
- High compliance standards expected from applicants.
Pakistan established the Pakistan Virtual Asset Regulatory Authority in July 2025, inviting global cryptocurrency exchanges to apply for licenses through a new federal framework.
This regulatory move aims to integrate Pakistan’s market with global standards, potentially enhancing financial inclusion and attracting significant cryptocurrency trade and investment to the region.
Pakistan introduces the Pakistan Virtual Asset Regulatory Authority in July 2025 to license global crypto exchanges.
The licensing initiative supports anti-money laundering practices and aims to integrate Pakistan with global financial standards.
Pakistan Unveils PVARA for Crypto Regulation in 2025
Pakistan launched the Pakistan Virtual Asset Regulatory Authority (PVARA) in July 2025, aimed at regulating power in the crypto space. The authority, created by the Virtual Assets Regulatory Authority Ordinance, is pivotal for global exchange licensing.
PVARA’s mandate includes licensing and supervising Virtual Asset Service Providers (VASPs). Exchanges must have a history of robust AML practices, aligning with global regulatory standards. Participation is contingent upon existing licenses in major jurisdictions.
Pakistan Positions Itself as Crypto-Friendly Hub
The creation of PVARA is expected to attract international exchanges, enhancing Pakistan’s digital financial landscape. Bilal bin Saqib emphasized this as Pakistan’s invitation to lead in digital finance globally.
Bilal bin Saqib, Chairman & Minister of State for Crypto and Blockchain, PVARA, said, “Our regulatory framework is designed not only to attract global VASPs but also to ensure that financial operations within Pakistan adhere to the highest standards of compliance and integrity.”
While financial markets, including cryptocurrencies like BTC and ETH, brace for changes, the compliance requirements set new benchmarks for regulatory practices. Market participants and global exchanges are keenly observing licensing developments.
Drawing Parallels with UAE and Singapore Models
PVARA echoes models like UAE VARA and Singapore MAS, which improved compliance and elevated market engagement. These frameworks have historically resulted in higher asset inflows and bolstered institutional trust.
Based on prior frameworks, increase in crypto trading volumes and better consumer protections are anticipated. The effect on crypto adoption in Pakistan will likely depend on effective implementation and compliance adherence.
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