The State Bank of Pakistan (SBP) and the Pakistan Virtual Assets Regulatory Authority (PVARA) today held talks for releasing a virtual currency and developing a regulatory roadmap for virtual assets.
The meeting follows the Ministry of Finance’s recent signing of a memorandum of understanding with Binance to explore blockchain-based tokenization of Pakistan’s real-world and sovereign assets.
The MoU outlines possible tokenization of government bonds, treasury bills, commodity reserves, and other federal assets.
Subject to regulatory approvals, assets of up to $2 billion could be involved to improve liquidity, transparency, and access to international investors. The MoU was signed in the presence of Finance Minister Muhammad Aurangzeb and Binance CEO Richard Teng, in the presence of Pakistan Crypto Council adviser Changpeng Zhao.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
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Jurisdiction: Pakistan