Pakistan Invites Global Crypto Exchanges to Obtain Local Licenses Under New Regulatory Framework

Pakistan has taken a significant step toward formalizing its cryptocurrency market by opening licensing opportunities for global virtual asset service providers (VASPs). The newly established Pakistan Virtual Asset Regulatory Authority (PVARA) will oversee compliance with FATF, IMF, and World Bank standards, including robust AML/CFT protocols.

The country's finance ministry revealed a thriving domestic crypto ecosystem, with 40 million users generating an estimated $300 billion in annual trading volume. "This is our invitation to world-leading VASPs to build Pakistan's digital financial future," stated PVARA Chairman Bilal bin Saqib.

The regulatory framework, enacted through the VIRTUAL Assets Ordinance 2025, creates a structured pathway for exchanges to operate within what officials describe as one of the world's largest untapped crypto markets. Licensing eligibility will be restricted to platforms already authorized under internationally recognized jurisdictions.