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Pakistan
2026-08-24 05:17:57

Pakistan opens crypto licensing portal, sets Sept. 5 deadline for existing firms

Pakistan’s Virtual Assets Regulatory Authority has opened its licensing portal after notifying rules for crypto exchanges and other virtual asset service providers operating in the country. Firms that were already providing virtual asset services on or before March 5 must apply for a no-objection certificate by Sept. 5 or stop operating. The new framework covers exchanges, custody, broker-dealer services, lending, derivatives, asset management, token issuance and mining-related services. It also gives firms two routes: a sandbox for testing products under supervision and an NOC pathway before local incorporation. Licensed providers must keep customer assets separate, and they cannot lend or pledge them without written consent. The rollout follows a public consultation held from June 11 to July 2. Pakistan’s parliament passed the Virtual Assets Act in March, and the State Bank of Pakistan later allowed banks to provide accounts to licensed VASPs, including segregated client-money accounts.

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Pakistan opens crypto licensing portal, sets Sept. 5 deadline for existing firms
Pakistan
2026-08-24 05:36:50

Pakistan opens virtual asset licensing portal, sets Sept. 5 deadline for existing providers to seek NOC

Pakistan’s Virtual Asset Regulatory Authority, or PVARA, has opened its licensing portal and set a compliance deadline for firms already operating in the country’s crypto sector. Companies that were providing virtual asset services on or before March 5 must apply for a no-objection certificate, known as an NOC, by Sept. 5. Firms that do not apply by that date must stop operating, and those that continue to run their business without filing after the deadline will be acting illegally. The new framework covers a broad range of services tied to virtual assets. That list includes exchanges, custody, brokerage trading, lending, derivatives, asset management, token issuance, and mining-related services. PVARA also laid out two entry routes for providers: they may first apply for an NOC, or test products in a regulatory sandbox supervised by the authority before seeking a full license. Licensed firms will face several operating requirements. They must keep client assets separate from their own funds and may not lend or stake customer assets without written consent. They are also required to meet standards on governance, market conduct, cybersecurity, operational resilience, anti-money laundering, and counter-terrorist financing. According to Cointelegraph, PVARA has already issued NOCs to companies including Binance and HTX.

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Pakistan opens virtual asset licensing portal, sets Sept. 5 deadline for existing providers to seek NOC
Pakistan
2026-08-24 03:11:11

Pakistan regulator gives crypto firms until Sept. 5 to enter new licensing process

Pakistan’s virtual asset regulator, PVARA, has told crypto exchanges and related service providers already operating in the country to enter a new licensing process by Sept. 5 or stop their business activities. According to CryptoSlate, the agency opened its licensing portal on Aug. 22 and released virtual asset service rules. Existing providers must file a no-objection certificate application, and those that submit complete applications on time may keep serving clients while their cases are reviewed. Firms that miss the deadline must halt regulated services. PVARA said the policy is not a blanket ban on crypto. Instead, it is a compliance-or-exit framework covering exchanges, custodians and other businesses serving Pakistani users.

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Pakistan regulator gives crypto firms until Sept. 5 to enter new licensing process
Pakistan
2026-08-21 16:59:45

Pakistan Rolls Out Virtual Assets Act and Invites Crypto Firms to Build in the Country

Pakistan has announced a new regulatory framework for crypto after nearly a decade of prohibition. Bilal Bin Saqib, the prime minister’s special assistant on blockchain and cryptocurrency, used X on Friday to invite foreign companies to set up in the country. The Virtual Assets Act creates Pakistan’s first comprehensive legal framework for virtual assets and the businesses that operate in the sector. The Pakistan Virtual Assets Regulatory Authority said licensing regulations have now been notified and the licensing portal is open. Saqib said the country now has the rules, the regulator and the licensing framework to bring virtual assets into the formal economy, protect consumers and build the foundation for the next generation of financial infrastructure. The law had already cleared the Senate earlier this year and was signed by President Asif Ali Zardari. Pakistan has also previously announced plans for a national strategic Bitcoin reserve and said it would allocate 2,000 MW of surplus electricity to Bitcoin mining and AI data centers. The article was written by Mathew Di Salvo for Bitcoin Magazine.

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Pakistan Rolls Out Virtual Assets Act and Invites Crypto Firms to Build in the Country
Pakistan
2026-08-21 09:02:30

Pakistan’s virtual asset licensing regime takes effect, existing VASPs face a Sept. 5 NOC deadline

Pakistan’s virtual asset licensing regime has officially gone live, according to the Pakistan Virtual Assets Regulatory Authority (PVARA). Existing virtual asset service providers (VASPs) must submit a no-objection certificate (NOC) application by Sept. 5, 2026, under Section 70 of the Virtual Assets Act 2026, or stop operating. PVARA said the country moved from basic legislation to implementing rules and an open licensing process in less than six months.

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Pakistan’s virtual asset licensing regime takes effect, existing VASPs face a Sept. 5 NOC deadline