Pakistan’s parliament passed a new law known as the Virtual Assets Act 2026, marking a significant step toward regulating the cryptocurrency sector.
The new law grants the Pakistan Virtual Assets Regulatory Authority (PVARA) complete jurisdiction to regulate and grant licenses to businesses involved in the digital asset industry.
Prior to this statute, PVARA operated under a 2025 interim order. The authority now has long-term legal jurisdiction to control cryptocurrency companies.
The new regulations require businesses like token issuers, digital asset custodians, and cryptocurrency exchanges to obtain official licenses before they can conduct business in the nation.
Additionally, the law imposes severe penalties for businesses that operate without authorisation. Companies that provide cryptocurrency services without a licence risk a fine of up to PKR 50 million (about $179,000) and five years in jail.
According to Pakistan’s government, the objective is to provide a legislative framework that promotes innovation while adhering to international anti-money laundering norms.
Numerous international cryptocurrency businesses have already begun submitting applications for approval. Although they are not yet completely permitted to conduct business in Pakistan, HTX and Binance have both gotten first clearances.
To draw blockchain businesses and new technology investments, the law also permits the government to establish specific crypto zones.
Officials believe these steps could help Pakistan become an important centre for digital asset development in the coming years.
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