Pakistan Opens Crypto Licensing Regime With Sept. 5 Registration Deadline

Pakistan has opened its new cryptocurrency licensing framework, giving digital asset companies until Sept. 5 to register.
The Virtual Assets Regulatory Authority (PVARA) said firms must submit applications for a no-objection certificate by the deadline or stop operating in the country.
PVARA said licensed companies will be required to meet strict operational and security requirements, including protecting customer funds, maintaining strong cybersecurity systems, providing transparent disclosures and following clear business practices.
The licensing framework, established under the Virtual Assets Act 2026, covers 11 categories of crypto-related businesses, including custody providers, exchanges, broker-dealers and derivatives platforms.
The registration process marks another step toward bringing Pakistan’s digital asset sector under formal regulation. It follows the State Bank of Pakistan’s decision in April to lift restrictions preventing financial institutions from providing banking services to crypto companies.
Banks, however, remain barred from directly investing in, trading or holding cryptocurrency assets themselves.