Virtual Assets Regulator Becomes Operational as FBR Officials Join Oversight Role

The government has operationalized the Pakistan Virtual Assets Regulatory Authority (PVARA), with officials from the Federal Board of Revenue (FBR) set to be included in the authority to address market surveillance, risk management, and anti-money laundering issues. According to a notification issued by the FBR on Thursday, during the first meeting of the PVARA Board, members agreed that additional human resources would be provided on a temporary basis to ensure the initial functionalization of the authority. The notification further stated that, to date, no officer has been assigned to PVARA, which has hampered its work and caused delays. It emphasized that the authority has been tasked with critical responsibilities that will play a significant role in strengthening Pakistan’s economy and global image. To address these concerns, the FBR confirmed that its officials will be deputed at PVARA.