Islamabad: Pakistan has officially launched its regulatory framework for digital assets, opening the licensing process for international cryptocurrency exchanges through the newly established Pakistan Virtual Assets Regulatory Authority (PVARA).
According to official reports, PVARA has invited global service providers to apply for licenses to operate in the country. To qualify, companies must already be licensed by recognized international regulatory bodies, comply with Know Your Customer (KYC) requirements, and submit detailed company information as part of the application process.
Pakistan is considered one of the world’s largest unregulated crypto markets, with nearly 40 million users and an estimated annual trading volume of $300 billion. The launch of PVARA marks a significant step toward formalizing this rapidly expanding sector, aligning Pakistan’s digital asset industry with international financial standards.
Officials said the framework is designed to improve transparency, safeguard investors, and address financial risks linked to digital assets. By introducing a structured licensing regime, the government aims to create a secure environment for cryptocurrency trading while also attracting international players to the domestic market.
Industry experts see the move as a crucial milestone that could not only regulate existing activity but also encourage new investment in Pakistan’s fintech and digital economy.
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