Pakistan Builds Virtual Asset Regulatory Framework in Under Six Months on $200k Budget

Pakistan's Ministry of Finance and the Pakistan Virtual Assets Regulatory Authority (PVARA) have established a regulatory framework for virtual assets, covering trading, custody, broking, asset management, lending, and settlement.

The framework was completed in under six months, with only 8% of the approved budget allocated, approximately $200,000. The remaining 92% of the budget was not utilized.

PVARA Chairman Bilal Bin Saqib emphasized that success should be measured by actual outcomes rather than expenditure.