Pakistan Opens Licensing for Global Crypto Exchanges Under New PVARA
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Pakistan has invited international crypto exchanges and other virtual asset service providers to apply for licenses under its new Pakistan Virtual Asset Regulatory Authority (PVARA), created by the 2025 Virtual Assets Ordinance. The move aims to regulate a sector serving over 40 million users and handling about $300 billion in annual trading, aligning it with global anti-money laundering and counter-terrorism standards. Applicants must already hold licenses in major jurisdictions and demonstrate strong compliance. PVARA, led by top financial regulators, will oversee licensing, supervision, and regulatory sandboxes to support Shariah-compliant innovation, calling the initiative a key step toward integrating Pakistan’s digital-asset economy with global norms.