Pakistan has formally moved toward regulating its virtual asset sector as the Pakistan Virtual Assets Regulatory Authority (PVARA) notifies licensing regulations and opens its licensing portal for virtual asset service providers. PVARA Chairman Bilal Bin Saqib announced the development, describing it as the end of an eight-year period of prohibition and a new phase focused on regulated participation in the digital asset economy.
Under the new framework, virtual asset providers seeking to operate in Pakistan will be required to obtain the appropriate licence and meet regulatory and compliance requirements established by PVARA. The licensing process provides a formal pathway for businesses operating in the virtual asset sector to seek approval and establish their operations within the country’s regulatory framework.
The opening of the licensing portal also establishes a clearer process for businesses seeking to enter Pakistan’s regulated virtual asset market. Licensed providers will be expected to comply with applicable regulatory requirements, while the framework is intended to provide consumers with greater clarity regarding the status and oversight of virtual asset service providers.
PVARA is positioning the regulatory framework as an opportunity for digital asset businesses to establish operations in Pakistan under defined rules. The authority has encouraged virtual asset providers to seek licensing and compliance as the country moves from prohibition toward a regulated environment for digital assets and cryptocurrency-related businesses.
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