Pakistan opens the door to crypto firms
Pakistan has rolled out a new regulatory framework for crypto after nearly a decade of prohibition. On Friday, Bilal Bin Saqib, the prime minister’s special assistant on blockchain and cryptocurrency, said foreign businesses should come to the country and set up shop.
The country’s Virtual Assets Act establishes Pakistan’s first comprehensive legal framework for overseeing virtual assets and the businesses operating in the sector. The Pakistan Virtual Assets Regulatory Authority, or PVARA, said the licensing regulations have been notified and the licensing portal is open.
‘Come, get licensed. Come, get banked.’
In an X post, Saqib said Pakistan’s approach to virtual assets had been “complete permission and complete ban” for about a decade, adding that “technology never waits for permission.” He told companies watching Pakistan from abroad: “The front door is open for you. Come, get licensed. Come, get banked. Come, build here under rules that are clear, public and enforceable.”
In another post, he said Pakistan now has “the rules, the regulator and the licensing framework” needed to bring virtual assets into the formal economy, protect consumers and build the foundation for the next generation of financial infrastructure.
Law already signed by the president
The Virtual Assets Act was approved by the Senate earlier this year and then signed into law by President Asif Ali Zardari. Friday’s announcement means the licensing regulations are now in place.
Pakistan’s recent crypto-friendly shift
Pakistan has taken several crypto-friendly steps in recent years. In 2025, it announced plans for a national strategic Bitcoin reserve at Bitcoin 2025. Before that, the government said it would allocate 2,000 MW of surplus electricity to Bitcoin mining and AI data centers, with the stated aim of generating revenue, creating jobs and attracting foreign investment.
The report was written by Mathew Di Salvo for Bitcoin Magazine.