Lahore: Pakistan has intensified efforts to formalise the regulation of virtual assets, with Prime Minister Shehbaz Sharif directing authorities to expedite the implementation of a comprehensive regulatory framework aligned with international standards.
The directive was issued during a meeting in Lahore with State Minister and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), Bilal Bin Saqib, according to a statement from the Prime Minister’s Office.
The prime minister said an effective regulatory system is essential to support the country’s emerging digital economy and to strengthen investor confidence in virtual asset markets. He also stressed the need to equip the youth with modern skills, particularly in artificial intelligence and digital finance, to meet evolving economic demands.
During the briefing, the PVARA chairman informed the prime minister that the authority is transitioning into a fully functional regulator. He highlighted the launch of a regulatory sandbox designed to enable controlled testing of virtual asset services and financial innovations.
The prime minister was also briefed on initiatives involving AI-based payment systems and regulated virtual asset services, alongside broader efforts to align regulatory structures, workforce training, and institutional capacity with Pakistan’s digital transformation agenda.
The development follows the introduction of the Virtual Assets Act 2026 earlier this month, under which virtual assets have been legalised and PVARA established as the statutory body responsible for licensing, supervision, regulation, and oversight of the sector.
In a recent clarification, PVARA also stated that any agreements, pilot projects, or operational activities involving virtual assets must receive prior regulatory approval before execution.
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