Pakistan Opens Door to Crypto Businesses After Decade-Long Ban

Pakistan has made a significant shift in its stance on cryptocurrency, ending nearly a decade of prohibition and inviting foreign businesses to establish themselves in the country. The Virtual Assets Act, signed into law earlier this year, introduces a comprehensive regulatory framework for overseeing virtual assets and their operators.

Bilal Bin Saqib, special assistant to the prime minister on blockchain and cryptocurrency, announced the new licensing regulations and portal via X post on Friday, extending an invitation to companies worldwide. 'To the companies watching Pakistan from outside, the front door is open for you,' he said. 'Come, get licensed. Come, get banked. Come, build here under rules that are clear, public, and enforceable.'

The country has been working on creating a crypto-friendly environment in recent years. In 2025, plans were announced to launch a national strategic Bitcoin reserve, and in the same year, Pakistan allocated 2,000 MW of surplus electricity for Bitcoin mining and AI data centers. This move aimed at generating revenue, creating jobs, and attracting foreign investment.