Crypto Companies Can Now Apply for Licenses in Pakistan

Pakistan has formally opened its virtual asset licensing regime, allowing Virtual Asset Service Providers to apply for regulatory approval under the Virtual Assets Act, 2026.

Key points

• The Pakistan Virtual Asset Regulatory Authority (PVARA) is accepting applications for regulatory sandbox participation, No Objection Certificates and full Virtual Asset Service Provider licenses.
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• Existing operators can follow the No Objection Certificate route.

Meanwhile, the Pakistan Virtual Asset Regulatory Authority (PVARA) is accepting applications for regulatory sandbox participation, No Objection Certificates and full Virtual Asset Service Provider licenses. The new framework requires service providers to obtain a formal license before offering virtual asset services in Pakistan. Crestwell Healthcare Announces Rs. 535 Million Right Matter.

Under Section 70 of the Virtual Assets Act, 2026, businesses that were already operating as virtual asset service providers on or before March 5, 2026 must submit applications for a No Objection Certificate by September 5, 2026 or cease operations.

In practice, the licensing framework covers a broad set of activities, including advisory services, broker-dealer services, custody, exchanges, lending and borrowing, virtual asset derivatives, asset management, transfers and settlement, and the issuance of asset-referenced and fiat-referenced tokens. It additionally covers mining-related virtual asset services.

Applicants seeking a full license will have to meet requirements including registration as a firm in Pakistan, prescribed minimum paid up capital, fit and proper tests for directors and key personnel, anti-money laundering and counter terrorism financing systems, cybersecurity measures, and business continuity arrangements. Leaker Claims GTA 6 Currency Can Be Exchanged for "Real-Life Money".

Notably, the framework provides two routes for businesses seeking a full license. Firms developing innovative products can first enter the regulatory sandbox and apply for a license after successfully completing the controlled testing process.

Existing operators can follow the No Objection Certificate route. It includes preliminary approval, regulatory compliance, local incorporation and a subsequent application for a full VASP license.

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Taken together, the developments around crypto Companies Can Now Apply for Licenses in Pakistan point to a situation that is still moving, and the coming days should bring more clarity.