Pakistan Kicks Off Crypto Licensing Regime with Sept. 5 Registration Deadline
The new licensing regime requires separate client accounts and anti-money-laundering controls as Pakistan moves to regulate digital asset firms.
- The Pakistan Virtual Assets Regulatory Authority opened a licensing portal Saturday, setting a September 5 deadline for existing virtual asset service providers to submit no-objection certificate applications or cease operations.
- Pakistan moved from primary legislation to notified regulations in under six months after parliament passed the Virtual Assets Act in March, establishing the autonomous PVARA to oversee digital asset policy.
- The State Bank of Pakistan now allows regulated banks to provide segregated client-money accounts to PVARA-licensed VASPs, though it strictly prohibits institutions from holding virtual assets using customer deposits.
- Licensed providers must enforce rigorous anti-money laundering and know-your-customer standards, while keeping customer holdings separate from their own assets to ensure market integrity.
- Firms can pursue an NOC before incorporating locally or enter a regulatory sandbox to test products under PVARA supervision, creating two clear pathways into the regulated market.
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Key points of the news: PVARA opened its licensing portal and set September 5 as the deadline for existing suppliers to apply for its NOC. Companies that operate without having filed an application after that date will commit an infringement and must cease their activities in the Pakistani market. The regulatory framework covers exchanges, custody, loans, derivatives, issuance of tokens and services related to mining, among other activities. Pak…
Pakistan Puts Crypto Firms on Notice as Sept. 5 Deadline Looms
Pakistan has officially thrown the switch on its virtual asset licensing regime, putting existing crypto businesses against a hard deadline to secure regulatory clearance or stop operating. The Pakistan Virtual Assets Regulatory Authority (PVARA) opened the licensing gates after final regulations under the Virtual Assets Act, 2026, were notified. Existing virtual asset service providers operating […]
CoinStats - Pakistan Launches Crypto Licensing Portal Wit...
Pakistan has launched a crypto licensing portal and set a September 5 deadline for existing firms to register, marking a major step toward formal regulation of the country's digital asset sector. The post Pakistan Launches Crypto Licensing Portal With September 5 Deadline for Existing Firms appeared first on Cryptoknowmics-Crypto News and Media Platform.
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