Pakistan Establishes Virtual Assets Regulatory Authority to Oversee $300B Crypto Market

Pakistan has taken a significant step toward regulating its burgeoning cryptocurrency sector with the launch of the Pakistan Virtual Assets Regulatory Authority (PVARA). The newly formed independent body will license and supervise Virtual Asset Service Providers (VASPs), enforce anti-money laundering protocols, and mitigate cybersecurity risks.

The MOVE aligns Pakistan with global standards set by the Financial Action Task Force (FATF) and signals institutional recognition of digital assets' role in the nation's financial ecosystem. A senior government official emphasized the framework's importance for fostering innovation while maintaining regulatory oversight.

With a $300 billion crypto market at stake, PVARA's establishment reflects growing governmental engagement with digital finance worldwide. The development may catalyze further institutional adoption across South Asia's rapidly evolving financial landscape.