Pakistan Courts Overseas Exchanges With Virtual Asset License Offers - Opening Doors to Global Crypto Giants

Pakistan rolls out the red carpet for international crypto exchanges—licensing push targets major players hungry for emerging market access.

The Regulatory Gambit

Islamabad's move signals serious crypto ambitions, dangling virtual asset service provider licenses before overseas exchanges. No more backdoor operations—the government wants established players inside the regulatory tent.

Market Mechanics Shift

Foreign exchanges gain legitimate entry to Pakistan's massive unbanked population while regulators get oversight—classic 'if you can't beat them, regulate them' strategy. Traditional banks watch nervously as crypto infrastructure gets official blessing.

Global Ramifications

Another developing nation bets crypto adoption beats fighting it—because when your currency's in freefall, digital assets start looking less like speculation and more like survival. Because nothing says financial stability like inviting volatility traders to set up shop—just ask any former finance minister who's tried to outsmart markets before.

Pakistan Targets Trusted International Firms for Its New Crypto Regime

PVARA wants applicant companies to already hold licenses from prominent regulators such as the US SEC, the UK Financial Conduct Authority, the EU’s VASP framework, the UAE’s Virtual Assets Regulatory Authority, or the Monetary Authority of Singapore.

Bilal bin Saqib, CEO of Pakistan crypto Council, told Cryptonews in an earlier interview that the cost of doing business in the country is much cheaper than elsewhere.

“We have access to amazing talent. We are in a very strategic location. For blockchain and crypto, what you need is great human resource,” he said.

Pakistan is consulting with global regulators to build a “Pakistan-first” crypto framework, Crypto Council CEO @Bilalbinsaqib told Cryptonews. #Pakistan #CryptoCouncilhttps://t.co/GZ9vkwUTo5

Submissions must include detailed company profiles, licensing information from other jurisdictions, track records in compliance – especially on anti-money laundering, counter-terrorism financing, and know-your-customer standards. Applicants must also define their proposed business model for operating in Pakistan.

Applications Accepted on Rolling Basis for Greater Flexibility

The licensing framework also includes regulatory sandboxes to foster innovation, including products compliant with Shariah law. PVARA said these measures will align Pakistan’s virtual asset sector with international norms set by institutions like the Financial Action Task Force, IMF, and World Bank.

Applications will be accepted on a rolling basis via email, giving eligible firms flexibility to submit when ready.

The Virtual Assets Ordinance came into force on July 8, 2025, establishing PVARA with the power to license, regulate and supervise virtual asset service providers across Pakistan.

PVARA’s governing board includes heads of key institutions such as the State Bank of Pakistan, the Securities and Exchange Commission, and the Federal Board of Revenue. It must ensure strong cybersecurity frameworks and consumer protection alongside preventing illicit financial flows.

Policy Support and Infrastructure Development Gain Momentum

Officials describe this as a pivotal step toward integrating Pakistan’s digital-asset economy with global financial practices while offering legal clarity to investors and consumers.

Earlier this year, Pakistan boosted its commitment to crypto regulation by launching the Pakistan Crypto Council, appointing Binance founder Changpeng Zhao as a strategic adviser and working to build infrastructure and policy support.

As the regulatory framework settles, the government hopes that this licensing regime will signal stability to foreign investors while providing Pakistani users with safer, regulated options.