Pakistan Builds Crypto Regulatory Regime with Bare Minimum Budget

Pakistan's Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), Bilal Bin Saqib, revealed at Bitcoin Asia that the country's crypto regulatory regime was built using just 8% of its allocated budget.

The new framework was established in under six months, covering activities including exchanges, custody, brokerage, asset management, lending, and settlement, while introducing requirements around governance, anti-money laundering and counter-terrorism financing, customer asset safeguarding, cybersecurity, and market conduct.

Saqib framed the PVARA rollout as more than a regulatory achievement, arguing that it demonstrates how governments can operate differently in an environment where technology is developing rapidly. He emphasized the need for speed without compromising structure, accountability, or consumer protection.