Pakistan’s Virtual Assets Regulatory Authority (PVARA) launched its licensing portal on August 22, giving crypto firms just two weeks to register. Companies active before March 5, when the Virtual Assets Act took effect for transitional purposes, must submit their No-Objection Certificate application by September 5 or face criminal charges for illegal operation. The framework covers 10 distinct categories of virtual asset activities and requires licensed providers to segregate client assets, while prohibiting the lending or staking of customer funds without explicit consent. Binance and HTX reportedly secured their certificates as early as December 2025, positioning themselves among the first international platforms to obtain preliminary regulatory approval. This compliance push aims to integrate virtual assets into Pakistan’s formal economy and give licensed platforms access to the formal banking sector.
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