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Point of Focus
- Pakistan has opened its crypto licensing portal under the Virtual Assets Act, 2026.
- Existing virtual asset providers must apply for an NOC by Sept. 5.
- The framework introduces 10 license categories.
Pakistan has formally opened its virtual asset licensing portal, giving existing cryptocurrency companies until Sept. 5, 2026, to begin the authorization process or cease operating in the country.
The Pakistan Virtual Assets Regulatory Authority (PVARA) announced the new licensing regulations on Aug. 22, completing a framework for supervising exchanges, custodians and other virtual asset service providers.
Introduced under the Virtual Assets Act, 2026, the regime establishes 10 license categories spanning crypto exchanges, custody, broker-dealer services, advisory, lending and borrowing, derivatives, asset management, transfers and settlements, token issuance and mining-related activities.
The regulations also set requirements covering company conduct, capital and prudential safeguards, technology infrastructure and compliance with anti-money laundering and counter-terrorist financing rules.
Existing crypto firms face Sept. 5 deadline
Virtual asset service providers already operating in Pakistan must submit applications for a No-Objection Certificate by Sept. 5 under Section 70 of the Act.
Companies that fail to apply by the deadline must halt their activities. Continuing to operate without submitting an application will constitute an offense.
🔴 Pakistan opens crypto licensing regime; Sept. 5 registration deadline
Pakistan's Virtual Assets Regulatory Authority (PVARA) launched formal crypto regulation under the Virtual Assets Act 2026. Digital asset firms must submit no-objection certificate applications by Sept. 5… pic.twitter.com/yDdhCTFjYj
— NewsTongue (@NewsTongueX) August 24, 2026
The deadline creates a short compliance window for companies serving the Pakistani market.
Firms will need to assess which license category covers their services and begin demonstrating that their governance, security and financial controls satisfy the new requirements.
Licensing will follow two-stage process
PVARA has structured authorization as a two-stage procedure.
Applicants seeking to incorporate in Pakistan can initially enter a regulatory sandbox or obtain a No-Objection Certificate under Section 19. Eligible firms may then proceed toward a full operating license.
The framework gives regulators an opportunity to evaluate business models and risk controls before granting broader authorization. It also creates separate regulatory paths for companies providing different services rather than treating every crypto business as an exchange.
PVARA developed the regulations following a public consultation held between June 11 and July 2, which included a webinar with industry stakeholders.
Licensed providers gain access to banking
The regime also addresses one of the largest obstacles facing crypto companies in Pakistan: access to banking services.
State Bank of Pakistan Circular No. 10 of 2026 permits regulated financial institutions to open accounts for PVARA-licensed providers. These can include segregated Client Money Accounts designed to keep customer funds separate from corporate assets.
🚨𝗣𝗔𝗞𝗜𝗦𝗧𝗔𝗡 𝗥𝗘𝗚𝗨𝗟𝗔𝗧𝗢𝗥 𝗗𝗘𝗠𝗔𝗡𝗗𝗦 𝗡𝗢𝗖 𝗙𝗥𝗢𝗠 𝗖𝗥𝗬𝗣𝗧𝗢 𝗕𝗨𝗦𝗜𝗡𝗘𝗦𝗦𝗘𝗦 𝗕𝗬 𝗦𝗘𝗣𝗧 𝟱!
The Virtual Asset Regulatory Authority (PVARA) has opened a licensing window for crypto exchanges, custodians and service providers operating before the… pic.twitter.com/va1fPnxZnc
— Rahul K (@iamrahulinc) August 24, 2026
PVARA Chairman and Minister of State Bilal Bin Saqib said licensed companies must segregate customers’ digital assets from their own holdings. Providers will also be prohibited from lending or pledging client assets without written consent.
Pakistan established PVARA as a permanent statutory authority in March 2026 and secured banking access for regulated providers the following month. The government has now completed the licensing framework within six months, shifting the domestic crypto industry from regulatory uncertainty toward formal supervision.
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