Pakistan Cracks Down on Unregulated Crypto Exchanges with September Deadline

Pakistan has opened its crypto licensing portal, giving exchanges and other virtual asset service providers until September 5 to apply for a no-objection certificate or stop operating in the country.

The Pakistan Virtual Assets Regulatory Authority (PVARA) said that companies providing virtual asset services on or before March 5 must submit an application by the deadline. Continuing to operate without submitting an application after that date will constitute an offense.

PVARA is offering two main routes for companies entering the regulatory system: existing or prospective providers can seek a no-objection certificate (NOC) before establishing a local entity, while companies testing newer products can apply through a regulatory sandbox under PVARA's supervision.