Pakistan’s virtual assets regulatory regime has drawn international attention after officials highlighted the country’s progress at Bitcoin Asia in Hong Kong. The framework was established in less than six months, with officials stating that the initiative used less than 8% of the approved budget.
Speaking at the event, Bilal Bin Saqib, Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), said the regulatory framework had been developed using limited resources. According to the details presented, approximately 8% of the allocated budget was utilised, while the remaining 92% was returned to the national exchequer. The development comes as Pakistan moves to establish clearer rules for virtual assets and businesses operating in the sector. PVARA is responsible for licensing, supervising and regulating virtual assets and virtual asset service providers under the country’s Virtual Assets Act 2026.
The regulatory framework was presented at Bitcoin Asia as an example of Pakistan’s efforts to develop a formal structure for the digital asset industry. The international attention also comes as governments and financial markets globally continue to assess regulatory approaches for cryptocurrencies, blockchain-based services and other virtual assets.
Pakistan’s progress could help create a more structured environment for virtual asset businesses while establishing regulatory oversight for activities involving digital assets. The government’s participation at major international crypto forums also signals its intention to position the country within the developing global virtual assets ecosystem.
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