Pakistan has officially opened its new crypto licensing system, with digital asset companies given until Sept. 5 to complete their registration.
The country’s Virtual Assets Regulatory Authority (PVARA) said firms must submit an application for a no-objection certificate before the deadline or shut down their operations.
PVARA said licensed businesses will have to meet strict operational and security requirements, including protecting customer assets, maintaining strong cybersecurity, making clear disclosures and operating with greater transparency.
The framework introduced under the Virtual Assets Act 2026 covers 11 categories of digital asset activities, including crypto custody, exchanges, broker-dealers and derivatives services.
The registration drive represents another step in Pakistan’s push to establish a formal regulatory framework for the digital asset industry. It follows the State Bank of Pakistan’s decision in April to allow financial institutions to provide banking services to crypto businesses.
Despite the policy shift, banks are still prohibited from investing in, trading or holding cryptocurrencies on their own balance sheets.
