Tag: Pakistan crypto regulation

Pakistan holds high-level meetings with Binance Global CEO Richard Teng to advance crypto regulation, strengthen FATF compliance, and develop a secure digital asset framework.

The Federal Board of Revenue (FBR) has begun consultations with experts to draft legislation for cryptocurrency regulation and taxation in Pakistan, following directives from the Federal Tax Ombudsman.

Pakistan has launched a licensing framework for cryptocurrency exchanges through the Virtual Assets Regulatory Authority, inviting global service providers to operate under strict KYC and compliance standards.

A Senate committee has been informed that cryptocurrency is increasingly being used for ransom payments in Pakistan. Lawmakers debated the Virtual Asset Bill 2025 to regulate crypto, address money laundering risks, and bring transparency.

The State Bank of Pakistan has linked digital assets to the Foreign Exchange Regulation Act, capping outbound transfers at $100,000 annually. The Senate Finance Committee is debating the PVARA Bill as concerns mount over $21 billion invested by Pakistanis in crypto markets.

Sindh High Court Chief Justice Muhammad Junaid Ghaffar has stressed the need for amendments in Pakistan’s laws to effectively handle cases related to virtual assets and cryptocurrencies. Highlighting regulatory gaps, the chief justice noted that without legislative clarity and a final decision from the State Bank on the crypto ban, courts face hurdles in addressing disputes involving digital assets.

Pakistan has strengthened its global standing by advancing crypto diplomacy, establishing the Virtual Assets Regulatory Authority, and creating a strategic Bitcoin reserve. Minister of State for Crypto and Blockchain Bilal Bin Saqib emphasized that Pakistan’s evolving crypto policy is designed to unlock international opportunities and secure the nation’s economic future.

Pakistan’s Virtual Assets Regulatory Authority (PVARA) has begun deliberations on lifting the State Bank of Pakistan’s 2018 ban on cryptocurrencies. The authority’s first board meeting also set out a roadmap for licensing, regulation, AI-driven risk management, and global integration of Pakistan’s virtual asset ecosystem.

Pakistan initiates comprehensive cryptocurrency regulations, forming a national crypto council and launching a new regulatory authority to integrate blockchain technology and digital assets into banking, trade, and remittance systems.

Pakistan has initiated the implementation of its Virtual Assets Act 2025, enabling banks and exchange companies to obtain licenses for operating in the crypto space. The move establishes PVARA to regulate the sector and align with FATF standards.

Pakistan has formally approved the Virtual Assets Act 2025, paving the way for comprehensive regulation of cryptocurrencies and digital assets under a new independent authority, PVARA, to ensure transparency, compliance, and innovation.

Pakistan’s Senate IT Committee has summoned officials from MoITT and the Ministry of Finance to justify public WiFi rollouts, the crypto regulatory council, and fund utilization under the Digital Nation Act 2025, raising key questions on policy, transparency, and digital governance.