Islamabad: The National Assembly on Tuesday passed the “Virtual Assets Bill, 2026”, paving the way for the formal regulation of digital currencies and virtual asset services in Pakistan.
The government bill was approved by a majority vote after the House suspended its scheduled Private Members’ Day business. It had earlier been passed by the Senate on February 27, 2026, before being referred to the lower house. The legislation will now be sent to the President for assent. Once signed, it will become law.
Federal Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry presented the bill before the House for consideration.
Under the new law, a regulatory body titled the Pakistan Virtual Assets Regulatory Authority (PVARA) will be established to oversee the licensing, regulation and supervision of virtual assets and virtual asset service providers operating in the country.
According to Clause 6 of the bill, the authority will be created upon the commencement of the Act to carry out its stated objectives. Clause 7 outlines its composition, which will include:
A chairperson appointed by the federal government
Secretary, Ministry of Finance
Secretary, Ministry of Law and Justice
Governor, State Bank of Pakistan
Chairperson, Securities and Exchange Commission of Pakistan
Chairman, National AML-CFT Authority
Chairperson, Pakistan Digital Authority
Two independent directors with expertise in virtual asset markets, digital technology or digital finance
The Authority will have the mandate to determine its own policy direction, approve regulations and manage its budget.
According to the statement of objects and reasons attached to the bill, the legislation seeks to provide a comprehensive legal framework to regulate virtual assets in line with international standards. The Authority will be empowered to combat money laundering, terrorist financing, proliferation financing and other illicit activities involving digital assets.
The framework also aims to promote safe trading practices, enhance transparency, encourage innovation, support financial inclusion and strengthen Pakistan’s competitiveness in the global digital economy. The bill further highlights the development of Shariah-compliant virtual asset services as part of its broader objectives.
With parliamentary approval secured, Pakistan moves a step closer to formally integrating virtual assets into its regulated financial system, subject to presidential assent.
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