The Pakistani government has introduced a regulatory framework for international crypto companies by creating the Pakistan Virtual Assets Regulatory Authority (PVARA). This initiative allows licensed firms access to a market with over 40 million users and nearly $300 billion in annual trading volume.
Establishment of Pakistan Virtual Assets Regulatory Authority
Pakistan has officially opened its crypto sector to global companies through the Pakistan Virtual Assets Regulatory Authority (PVARA), operating under the Virtual Assets Ordinance 2025. International companies can now apply for operating licenses in a regulated market.
Potential of Pakistan's Crypto Market
Pakistan's crypto market, consisting of over 40 million users, is now set to attract institutional investments. Stablecoins are expected to play a crucial role in remittances and trade, creating conditions for enhanced innovation and increased activity.
Regulators' Views and Goals
Chairman of PVARA, Bilal bin Saqib, emphasized the importance of transparency and compliance in the new governance framework. He stated: > 'This EoI is our invitation to the world’s leading VASPs to partner in building a transparent and inclusive digital financial future for Pakistan.' - **Bilal bin Saqib**, Chairman, PVARA
Pakistan’s bold strategy could redefine its financial landscape and further integrate into global markets. The outcomes of the initiatives will depend on the engagement and participation of major global crypto exchanges.
