Pakistan has launched a comprehensive virtual asset licensing regime aimed at bringing crypto-related activities under a transparent legal and regulatory framework.
Pakistan has introduced a transparent regulatory and licensing framework for virtual assets, marking a major step toward regulating the country’s growing digital economy and protecting users and their assets.
The Pakistan Virtual Assets Regulatory Authority has issued licensing regulations under the Virtual Assets Act 2026 and activated an online licensing portal. Existing virtual asset operators in Pakistan can submit applications for licenses until Sept. 5.
The regulations introduce 10 licensing categories covering a range of virtual asset services, including exchanges, broker-dealers, advisory services, lending and borrowing services, mining and other related activities.
Officials said the framework has been developed to provide legal protection to millions of Pakistanis holding virtual assets while also establishing clear legal responsibilities for service providers.
Bilal bin Saqib, chairman of the Pakistan Virtual Assets Regulatory Authority, invited virtual asset service providers to obtain licenses and connect with the country’s banking system.
He said the new legal framework also creates opportunities for foreign companies seeking to enter Pakistan’s virtual asset market.
Saqib said Pakistan had established a regulator and a complete licensing framework in less than six months, describing the development as a significant step toward bringing virtual asset activities within the law.
“Our job is to regulate crypto,” Saqib said, adding that Pakistan already has legislation governing virtual assets and that the objective is to bring every related activity within the legal framework.
He said regulation was intended to provide protection rather than restrict the sector.
According to Saqib, Pakistan’s regulatory regime was developed within five months, while several countries still do not have a comparable framework.
“Crypto already exists in Pakistan; our job is to regulate it,” he said.
The licensing system is expected to provide a formal legal structure for virtual asset businesses while creating a regulated environment for users, service providers and potential international investors.
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