Pakistan to require crypto companies to obtain local licenses

Only companies that are already regulated in at least one major jurisdiction can apply

Pakistan calls on international crypto companies to obtain local licenses

15.09.2025 - 10:05

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3 min

Key points:

Pakistan has called on international crypto companies to apply for local licenses.
Only companies already recognized by regulators in major regions such as the US or the EU can apply.
Pakistan has shown interest in cryptocurrencies and appointed Binance co-founder Changpeng Zhao as an advisor earlier this year.

The Pakistan Virtual Assets Regulatory Authority (PVARA) has called on international crypto companies to apply for local licenses. This will allow them to work with 40 million cryptocurrency users in the country. The Ministry of Finance has clarified that only companies that are already regulated in at least one major jurisdiction — the US, the EU, or Singapore — can apply.

Licensing requirements

Applicants must provide information about their current licenses, activities, technologies, security protocols, and compliance history. Companies must also describe their plans for entering the Pakistani market in detail.

PVARA was established in July in accordance with the Virtual Assets Ordinance, which establishes a comprehensive regulatory framework for digital assets. Crypto companies are prohibited from operating in the country without a license. To obtain one, they must meet minimum capital requirements and implement robust security systems and compliance programs. The companies’ services must also comply with Sharia law under the supervision of a committee of Islamic financial experts.

Michael Saylor will help Pakistan in developing the crypto sector

Pakistan had earlier launched the Digital Assets Authority to boost the industry

Bilal bin Saqib, PVARA chair and minister of state for crypto and blockchain, noted:

“This EoI is our invitation to the world’s leading VASPs to partner in building a transparent and inclusive digital financial future for Pakistan.”

Pakistan has shown positive momentum in relation to cryptocurrencies in recent months. A crypto council has been created, which includes Binance co-founder Changpeng Zhao. The council is considering launching bitcoin mining and plans to create a state strategic reserve in BTC.

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