Pakistan's PVARA Deadline Looms: Register or Shut Down by September 5

Pakistan's Virtual Assets Regulatory Authority (PVARA) has set September 5 as the deadline for virtual asset service providers (VASPs) to register with the authority or shut down operations in the country.

The PVARA was established under the Virtual Assets Act 2026, which came into force on March 5, 2026. The act granted a limited window to firms already serving Pakistan to regularize their activities.

Pakistan ranks third globally for crypto activity, with an estimated 40 million crypto-linked accounts and a virtual-asset market valued at $250 billion, according to PVARA Chairman Bilal Bin Saqib.

An NOC (No-Objection Certificate) is required for existing VASPs to continue operating in Pakistan. The certificate is not a full license but the first step towards obtaining one. Firms must also apply for a full VASP license and complete FMU registration, incorporate a local Pakistan company, and comply with AML, KYC, and cybersecurity obligations.