Licensing Process Begins to Bring Digital Assets Under Regulatory Framework in Pakistan
Mian Nadeem | Published September 10, 2026 | 10:45 PM
The Pakistan Virtual Regulatory Authority (PVRA) has received 70 applications from entities aspiring to offer digital asset-related businesses and services. PVRA Chairman, Bilal bin Saqib, shared this update.
Navigating the Digital Asset Sector in Pakistan
Pakistan has initiated the licensing process to formalize the digital assets market, with PVRA receiving a significant number of applications within a short time frame. The authority’s chairman emphasized the importance of a comprehensive regulatory framework for this sector.
Bilal bin Saqib revealed that PVRA has meticulously crafted a set of guidelines catering to various aspects, including:
- Business activities
- Licensing procedures
- Oversight and transparency
A Formalized Approach
The received applications will be rigorously evaluated against these standards. Companies adhering to the prescribed regulations will be granted licenses, enabling them to engage in digital asset trading and related services legally. This move ensures a structured and transparent environment for all participants.
Saqib highlighted the benefits of this regulatory system, which include:
- Enhanced market transparency
- Improved institutional oversight
- Proper documentation of digital asset transactions
Budget Management and Global Contributions
Notably, PVRA has efficiently managed its allocated budget, returning 92% to the national exchequer while developing the regulatory framework with minimal expenditure. Pakistan is also set to contribute to global discussions on digital assets by presenting a policy paper at the United Nations.
Bilal bin Saqib further noted ongoing negotiations with the State Bank of Pakistan (SBP) to explore the potential of stablecoins in enhancing and expediting overseas Pakistani remittances, aiming to reduce costs significantly.
