Pakistan Embraces Regulatory Framework for Virtual Assets
Pakistan has made a significant shift in its approach to virtual assets by establishing formal regulatory frameworks. The country enacted the Virtual Assets Act in 2026, creating the Pakistan Virtual Assets and Ancillary Regulatory Authority (PVARA) as the dedicated regulator.
Minister Bilal Bin Saqib addressed the Silk Road Finance and Technology Forum in Tashkent on August 25, 2026, where he emphasized the importance of regulatory clarity in enabling innovation. The formal regulation brings virtual asset service providers within supervised environments, reducing reliance on offshore channels.
The State Bank of Pakistan issued Circular 10, permitting regulated banks to serve licensed virtual asset providers. Segregated client-money accounts protect consumer assets while enabling institutional participation. This framework balances innovation acceleration with consumer protection standards.