15-9-2025 – Pakistan’s Virtual Assets Regulatory Authority (PVARA) has urged international cryptocurrency companies to seek local licenses to tap into the nation’s 40 million digital asset users.The call, detailed in a finance ministry statement released Saturday, targets firms already licensed in jurisdictions like the U.S., EU, or Singapore.
Applicants must submit comprehensive details on their operations, technology, security measures, compliance records, and tailored plans for the Pakistani market, while adhering to Sharia-compliant standards overseen by Islamic finance experts. Licensing requires meeting capital thresholds and implementing strong security protocols, with unlicensed operations barred under the July Virtual Assets Ordinance that birthed PVARA.
PVARA Chairman Bilal bin Saqib, also the minister of state for crypto and blockchain, framed the initiative as a bid for global virtual asset service providers to foster a transparent digital finance ecosystem. Pakistan positions itself as a high-potential frontier, citing over $300 billion in annual trading volume amid recent pro-crypto moves, including a national crypto council featuring Binance co-founder Changpeng Zhao, Bitcoin mining ambitions, and proposals for a state Bitcoin reserve.
