Pakistan Advances Crypto Regulation with PVARA Progress

The Pakistan Virtual Assets Regulatory Authority (PVARA) has made significant progress in its regulatory framework for virtual assets. In its third official meeting, chaired by Minister of State and PVARA Chairman Bilal Bin Saqib, officials reviewed the ongoing progress and advanced both the HR Regulations and Licensing Regulations.

The development marks a milestone toward operationalizing the licensing regime for virtual asset service providers in Pakistan. Several top government officials attended the session to ensure unified progress across all sectors, including State Bank of Pakistan Governor Jameel Ahmad and Secretary Finance Imdad Ullah Bosal.

Chairman Bilal Bin Saqib highlighted Pakistan's potential in the global digital economy, citing its young population and high rates of crypto adoption. He drew a comparison between the early internet and blockchain technology, stating that tokenization will transform the flow of value.