Big news from Islamabad — the Pakistani government has just approved the creation of a new watchdog called the Pakistan Virtual Assets Regulatory Authority (PVARA). This new body will be in charge of watching over crypto platforms, digital wallets, token services, and more.
The goal? To make sure Pakistan’s crypto world follows global rules from big organizations like the IMF, FATF, and World Bank.
What Will PVARA Do?
PVARA will:
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Give licenses to crypto exchanges and platforms
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Make sure all platforms follow anti-money laundering (AML) and cybersecurity rules
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Monitor the tokenization of real-world assets like real estate
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Make sure crypto activities match with international finance standards
Who’s Involved?
This new authority will include experts from:
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State Bank of Pakistan (SBP)
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Securities and Exchange Commission (SECP)
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Federal Board of Revenue (FBR)
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Ministries of Finance, Law, and IT
Also, a Shariah Advisory Committee will check that crypto services follow Islamic finance rules, and a special tribunal will handle complaints and legal issues.
Why This Is a Big Deal
This move is part of Pakistan’s bigger plan to modernize its financial system. Some recent steps include:
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Launching the Pakistan Crypto Council (PCC)
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Running a CBDC (Central Bank Digital Currency) pilot
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Looking into using Bitcoin and blockchain in public finance
Experts believe this can help unlock Pakistan’s huge $25 billion crypto market, bring it into the legal system, protect users, and boost tech-driven economic growth — just like we see in countries such as the UAE, India, and Singapore.
Summary
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Pakistan has formed PVARA to regulate crypto and digital assets
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It will give licenses and ensure platforms follow rules
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Government agencies and Shariah experts are all part of the system
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It's a big step toward safe and legal crypto use in Pakistan
Disclaimer: This article is only for
information and not financial advice. The opinions shared here may be the
writer’s personal views. Please do your own research before making any
investment choices. We are not responsible for any money you may lose.
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