Crypto is officially entering Pakistan’s regulated financial landscape as the government launches a licensing system for cryptocurrency exchanges. The Pakistan Virtual Assets Regulatory Authority (PVARA) has opened applications for international crypto service providers, inviting global players to secure licenses and operate within the country’s growing digital finance sector.
Industry analysts estimate that Pakistan’s crypto market serves nearly 40 million users, with an annual trading volume nearing $300 billion—making it one of the world’s largest previously unregulated markets. By introducing a formal regulatory framework, PVARA aims to align Pakistan’s crypto activity with global standards while reducing financial risks.
Under the new rules, companies seeking licenses must hold approvals from recognized global regulators, adhere to strict Know Your Customer (KYC) procedures, and submit detailed corporate disclosures. This approach is designed to curb illegal transactions and enhance transparency while fostering growth in the nation’s fintech ecosystem. Experts believe the move will attract foreign investment and increase confidence in Pakistan’s crypto industry.
Earlier in March, the government formed the Pakistan Crypto Council (PCC) to oversee the integration of blockchain technology and digital assets into the national economy. The council was established after Bilal bin Saqib was appointed Chief Advisor to the Finance Minister on crypto affairs, signaling a clear commitment to digital transformation.
According to the Finance Division, the PCC represents a pivotal step in Pakistan’s journey toward regulated digital finance. Chaired by Finance Minister Muhammad Aurangzeb, the council includes key decision-makers such as the governor of the State Bank of Pakistan, the chairman of the Securities and Exchange Commission of Pakistan, the federal law secretary, and the federal IT secretary.
With these initiatives, Pakistan positions itself as a rising hub in the global crypto market, paving the way for innovation, investment, and a secure blockchain-driven financial future.
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