ISLAMABAD – Pakistani government has taken major step toward regulating virtual asset sector with regulatory framework.
A high-level meeting held in Islamabad brought together key representatives from banks, exchange companies, and the jewelry sector to discuss the newly introduced Virtual Asset Act 2025.
The newly established Pakistan Virtual Asset Regulatory Authority (PVARA) will oversee licensing, regulation, and supervision of all entities operating in the virtual asset domain, including cryptocurrencies. Officials are tasked with ensuring that Pakistan’s virtual asset industry adheres to international standards, particularly those set by the Financial Action Task Force (FATF), aimed at combating money laundering and terrorism financing.
Virtual Asset Act 2025 was officially approved earlier this month after clearance from cabinet, Prime Minister, and President in historic milestone in Pakistan’s efforts to modernize its financial regulations.
This move will help attract investments, promote transparency, and provide a safer environment for virtual asset transactions in the country. Stakeholders from various sectors have welcomed the framework as a positive development for Pakistan’s emerging digital economy.
This initiative places Pakistan among the growing number of countries adopting clear rules to regulate the rapidly evolving virtual assets market, ensuring both innovation and security go hand in hand.
