Pakistan’s virtual asset licensing regime has officially gone live, marking a major step in establishing a formal regulatory framework for the country’s digital asset sector. The Pakistan Virtual Assets Regulatory Authority (PVARA) has notified the Pakistan Virtual Asset Services Regulations, 2026 and Pakistan Virtual Asset Activity Specific Regulations, 2026, providing a structured licensing and oversight framework for virtual asset businesses operating in the country.
Under Section 70 of the Virtual Assets Act, 2026, existing virtual asset service providers that qualify as transitional persons and have been operating since March 5, 2025, are required to submit their No Objection Certificate (NOC) applications by September 5, 2026. Providers that fail to meet the requirement will be required to cease operations.
The framework also establishes pathways for other virtual asset businesses seeking regulatory approval. According to the notified framework, eligible entities can apply through either the Sandbox or NOC route, subject to meeting the applicable regulatory requirements. This creates a formal process for businesses seeking to enter or continue operating within Pakistan’s virtual asset ecosystem.
PVARA said the licensing regime brings clearer rules, regulatory oversight and accountability to the digital asset sector. The move comes less than six months after Pakistan moved from primary legislation toward detailed regulations and an operational licensing process, creating a formal regulatory structure for virtual asset service providers.
The new framework is expected to provide a regulated entry point for businesses involved in digital assets while establishing compliance requirements for existing operators. PVARA has opened applications through its licensing platform, with the latest regulatory notification dated August 21, 2026.
Follow the SPIN IDG WhatsApp Channel for updates across the Smart Pakistan Insights Network covering all of Pakistan’s technology ecosystem.
