Pakistan has opened its doors to international crypto exchanges and virtual asset service providers by inviting them to apply for licenses to operate under its newly formed regulatory authority.
The Pakistan Virtual Assets Regulatory Authority (PVARA), created under the Virtual Assets Ordinance 2025, reportedly issued a call for Expressions of Interest this Saturday from firms already operating in other major jurisdictions.
Bilal bin Saqib, CEO of Pakistan Crypto Council, told Cryptonews in an earlier interview that the cost of doing business in the country is much cheaper than elsewhere. “We have access to amazing talent. We are in a very strategic location. For blockchain and crypto, what you need is great human resource,” he said.
PVARA wants applicant companies to already hold licenses from prominent regulators such as the US SEC, the UK Financial Conduct Authority, the EU’s VASP framework, the UAE’s Virtual Assets Regulatory Authority, or the Monetary Authority of Singapore.
Applications will be accepted on a rolling basis via email, giving eligible firms flexibility to submit when ready. The Virtual Assets Ordinance came into force on July 8, 2025, establishing PVARA with the power to license, regulate and supervise virtual asset service providers across Pakistan.
The licensing framework also includes regulatory sandboxes to foster innovation, including products compliant with Shariah law. PVARA said these measures will align Pakistan’s virtual asset sector with international norms set by institutions like the Financial Action Task Force, IMF, and World Bank.
