Pakistan Invites Global Crypto Exchanges to Apply for Operating Licenses
Pakistan's newly formed cryptocurrency regulator, the Pakistan Virtual Asset Regulatory Authority (PVARA), has opened licensing applications to international exchanges and digital asset service providers. This move signals a major step toward formalizing one of the world's largest unregulated crypto markets, with over 40 million users and estimated annual trading volumes exceeding $300 billion.
The regulatory framework aligns with global standards set by the Financial Action Task Force, IMF, and World Bank. PVARA will oversee licensing, anti-money laundering protocols, and cybersecurity requirements. "This is our invitation to the world's leading VASPs to partner in building a transparent digital financial future," stated Bilal bin Saqib, PVARA chairman.
