Pakistan Invites Global Crypto Firms with New Licensing Framework

Pakistan's Virtual Asset Regulatory Authority (PVARA) has opened applications for international cryptocurrency exchanges and service providers, signaling its ambition to become a significant player in digital finance. The regulatory body, established under July's Virtual Assets Ordinance 2025, aligns with FATF, IMF, and World Bank standards.

Eligibility is restricted to firms holding licenses from top-tier regulators including the SEC, FCA, or equivalent authorities in the EU, UAE, and Singapore. Applicants must disclose comprehensive operational details—from security protocols to assets under management—and present Pakistan-specific business plans.

"This initiative lays the foundation for a transparent digital financial ecosystem," stated Bilal bin Saqib, Pakistan's Minister of State for crypto and Blockchain. The move capitalizes on Pakistan's burgeoning crypto market, which boasts over 40 million users and substantial annual trading volume.