Pakistan’s Virtual Assets Regulatory Authority (PVARA) has begun a public consultation on the draft Pakistan Virtual Asset Services Regulations 2026 and a set of accompanying specialized manuals. According to Odaily, comments on the draft will be accepted until 16:00 local time on July 2. The consultation focuses on the regulatory framework for virtual asset services and the detailed rules attached to related business activities.
Licensing Framework and Ten Business Manuals
The draft is designed to establish a licensing and supervisory system for virtual asset service providers. It sets out rules covering corporate governance, risk control, cybersecurity, anti-money laundering and other compliance areas. The supporting materials include ten license-specific business manuals, which are intended to clarify requirements for different licensed activities and provide more defined references for applications, operations and compliance management.
The stated purpose of the consultation is to improve Pakistan’s domestic virtual asset regulatory system and align the country’s framework with FATF international standards. For entities planning to provide virtual asset services in Pakistan, the draft regulations and specialized manuals will serve as key documents for understanding license boundaries, compliance responsibilities and supervisory requirements.