Pakistan Crypto Platforms Given September 5 Deadline to Comply or Leave

Pakistan has given crypto platforms until September 5 to comply with its new licensing regime or leave the market.

The Pakistan Virtual Assets Regulatory Authority (PVARA) opened a licensing portal on August 22, after issuing final virtual-asset service regulations a day earlier.

Bilal Bin Saqib, PVARA's Chairman, said: 'This market [previously] existed without a clear regulatory pathway. Today, that changes. We now have the rules, the regulator and the licensing framework to bring virtual assets into the formal economy, protect consumers and build the foundation for the next generation of financial infrastructure.'

The deadline applies to providers that were already operating in Pakistan when the Virtual Assets Act took effect on March 5.