Pakistan Invites Global Crypto Exchanges to Apply for Licensing

Pakistan Virtual Asset Regulatory Authority (PVARA) said it has invited global exchanges and Virtual Asset Service Providers to apply for licensing under the country’s new Virtual Assets Ordinance, 2025. The authority said the move aims to create a secure and transparent digital assets ecosystem aligned with global standards from the Financial Action Task Force, IMF, and World Bank. Pakistan’s digital assets market already has more than 40 million users with an estimated annual trading volume of over $300 billion, according to PVARA. The licensing process is open to exchanges operating under international regulators such as the US SEC, UK FCA, EU VASP, UAE VARA, or Singapore MAS, provided they demonstrate compliance with anti-money laundering, counter-terrorism financing, and cybersecurity requirements. Bilal bin Saqib, chairman of PVARA and minister of state for crypto and blockchain, said the invitation is meant to encourage leading global firms to help build an inclusive digital financial future for Pakistan. Submissions are being accepted on a rolling basis via email to PVARA’s headquarters in Islamabad.