70 Major Global Exchanges Seek Licences in Pakistan’s Digital Asset Market

Pakistan has transformed its stance on cryptocurrencies from a complete ban to legalization and regulation in just months, with around 70 major global exchanges now seeking licenses to enter the country's emerging digital-asset market, Chairman of the Pakistan Virtual Asset Regulatory Authority.

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• Addressing a press briefing, Saqib remarked Pakistan was additionally considering the tokenization of administration debt and Roshan Digital Accounts (RDAs) as part of its future digital-asset initiatives.
• The licensing framework was further operationalized through regulations notified in August 2026, requiring virtual asset service providers to obtain formal licenses before offering services in Pakistan.
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• According to him, the lower cost could result in savings of around $410 million.

Saqib remarked businesses that meet the regulatory framework will be issued licenses to purchase and sell digital assets.

He remarked the regulatory framework for digital assets had been developed within six months and businesses would be licensed after session the required conditions. Govt Moves Draft Refinery Upgrade Agreements to ECC for Approval.

Saqib additionally stated digital remittances could significantly reduce the cost of sending funds to Pakistan. He remarked the current cost of remittances for Pakistanis stood at 6.5 percent and could fall to 1 percent through digital channels.

PVARA was created as Pakistan's dedicated regulator for virtual assets after the Virtual Assets Ordinance was promulgated in July 2025 and the Virtual Assets Act was enacted in March 2026. The law offered PVARA powers to license and supervise virtual asset service providers, with the framework covering licensing, consumer protection, cybersecurity and anti capital laundering requirements.

For context, the licensing framework was further operationalized through regulations notified in August 2026, requiring virtual asset service providers to obtain formal licenses before offering services in Pakistan. Stay Connected with ProPakistani.

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In short, 70 Major Global Exchanges Seek Licences in Pakistan's Digital Asset Market is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.