Karachi — Pakistan is fast-tracking its digital asset and cryptocurrency agenda, with the State Bank of Pakistan (SBP) and the Pakistan Virtual Assets Regulatory Authority (PVARA) intensifying coordination to create a secure, regulated, and investor-friendly ecosystem for virtual assets.
High-level discussions between PVARA Chairman Bilal bin Saqib and SBP Governor Jameel Ahmad focused on the integration of digital financial technologies, the rollout of Pakistan’s central bank digital currency (CBDC) pilot, and frameworks to ensure that innovation in the sector goes hand-in-hand with risk management, anti-money laundering compliance, and investor protection.
The move comes in the wake of the Pakistan Virtual Assets Ordinance 2025, which established PVARA to license and regulate virtual asset service providers. Officials believe that a structured regulatory framework will not only protect investors but also attract international and domestic investment, positioning Pakistan as a forward-looking player in the global digital finance landscape.
As part of the ongoing initiative, PVARA has already issued no-objection certificates (NOCs) to major international exchanges, including Binance and HTX, allowing them to align with Pakistan’s anti-money-laundering and licensing requirements. In parallel, the Ministry of Finance signed a memorandum of understanding (MoU) with Binance to explore tokenisation of state assets, including sovereign bonds and commodity reserves, a move expected to enhance transparency, liquidity, and wider investor participation.
Regulators also discussed innovative use cases of blockchain technology and the gradual integration of digital assets into mainstream financial operations. The SBP and PVARA stressed that the success of these initiatives depends on robust governance, operational security, and strategic oversight, ensuring that the rapid adoption of new technologies does not compromise market stability.
Industry experts said Pakistan’s push to regulate and mainstream digital assets reflects the government’s ambition to create a regional hub for blockchain and crypto finance, offering structured opportunities for investors while reinforcing regulatory credibility.
With digital assets gaining momentum globally, Pakistan’s coordinated efforts through SBP and PVARA signal a major step toward modernising the financial ecosystem and harnessing emerging technologies to fuel economic growth.
This story has been reported by PakTribune. All rights reserved.