Pakistan Unveils Licensing Regime for Virtual Asset Service Providers

Pakistan's Virtual Assets Regulatory Authority (PVARA) has opened its licensing portal for virtual asset service providers, giving existing firms until September 5 to apply for a No-Objection Certificate or shut down.

The regime spans 11 license categories, including exchanges, custody, and stablecoin issuance, which can be reached through a regulatory sandbox or direct NOC application.

PVARA Chairman Bilal Bin Saqib also serves as CEO of the Pakistan Crypto Council, which has been promoting the industry for two years.