Pakistan has introduced a new regulatory framework for the virtual asset sector in less than six months, according to Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib.
Saqib said the initiative cost approximately $200,000, equivalent to around 8% of the approved budget. The framework establishes a legal pathway for businesses operating in areas such as virtual asset exchanges, brokerage, asset management, lending and settlement services.
The regulations also set standards for corporate governance, anti-money laundering measures, cybersecurity, customer asset protection and market conduct.
Saqib said the framework could support new opportunities in tokenized markets, stablecoins, programmable payments and AI-powered financial services, as Pakistan continues to develop its digital economy.
