Pakistan Gives Crypto Firms September Deadline for Licensing

Pakistan has given cryptocurrency firms until September 5 to enter its new licensing regime or stop serving the market. This marks a significant shift from a broad crypto policy towards formal supervision.

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

Bilal Bin Saqib, PVARA's Chairman, said: 'This market 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 already operating in Pakistan when the Virtual Assets Act took effect on March 5. These firms must submit an application for a no-objection certificate (NOC) to continue offering services while PVARA reviews the filing.