Pakistan Crypto Firms Face Deadline for VASP Licensing

Pakistan has set a September 5 deadline for crypto firms to apply for licensing under the Virtual Assets Act, 2026. Companies operating in the country as of March 5, 2026, must submit an application for regulatory approval by September 5 or cease their activities in the local market.

The new procedure implements the requirements of the Virtual Assets Act, 2026, which positions the PVARA at the forefront of sector oversight. The regulator is currently accepting applications for No-Objection Certificates (NOC), the Regulatory Sandbox, and VASP licenses, depending on a company's specific path.

Regulated operators will have to implement rules for governance, cybersecurity, AML/CFT controls, transparency, and the protection of client funds. They must also keep client assets separate from their own funds and gain access to the official banking system.