Pakistan has launched a regulatory framework for cryptocurrency businesses nearly ten years after banning the asset class, opening a licensing portal and implementing rules under the Virtual Assets Act.
Bilal Bin Saqib, Special Assistant to the Prime Minister on Blockchain and Cryptocurrency, announced the move on August 21, 2026, via social media. The Virtual Assets Act was approved by the senate and signed into law by President Asif Ali Zardari earlier in 2026.
“For approximately a decade, Pakistan’s answer to virtual assets was complete permission and complete ban, but history tells us that technology never waits for permission,” Bin Saqib said in his announcement.
Licensing Framework Details
The Pakistan Virtual Assets Regulatory Authority (PVARA) will oversee the licensing process. Bin Saqib invited international crypto companies to apply for licenses and banking relationships under the new rules.
“To the companies watching Pakistan from outside, the front door is open for you. Come, get licensed. Come, get banked. Come, build here under rules that are clear, public and enforceable,” Bin Saqib said.
The licensing framework is designed to bring virtual assets into the formal economy while protecting consumers. “The rules, the regulator and the licensing framework to bring virtual assets into the formal economy, protect consumers and build the foundation for the next generation of financial infrastructure,” Bin Saqib stated.
Recent Crypto Policy Shifts
Pakistan has signaled a broader pivot toward crypto adoption in recent years. In 2025, the country announced plans to launch a national strategic Bitcoin reserve and allocated 2,000 MW of surplus electricity to Bitcoin mining and AI data centers.
In 2025, leaders from World Liberty Financial, a Trump-backed crypto project, met with Pakistan’s prime minister in Islamabad, marking the country’s engagement with major crypto initiatives.
