Tag: SBP digital currency

The State Bank of Pakistan and PVARA held discussions on launching a virtual currency and creating a regulatory framework for virtual assets. The move follows a MoU with Binance to explore blockchain-based tokenization of government bonds, treasury bills, and other federal assets worth up to $2 billion.

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.

Pakistan has initiated a digital currency pilot, moving closer to a Central Bank Digital Currency (CBDC) era. The pilot reflects growing regulatory momentum toward fintech innovation and reshaping payment systems in the region.

Pakistan is moving rapidly toward legalizing cryptocurrency, with a draft regulatory framework under review and fast-tracked for approval. The proposed legislation aims to align with global standards and position Pakistan as a forward-looking participant in the digital asset economy.