Pakistan’s parliament has passed the Virtual Assets Act, 2026, which is the most comprehensive legal framework on digital assets put together in the country. ThePakistan’s parliament has passed the Virtual Assets Act, 2026, which is the most comprehensive legal framework on digital assets put together in the country. The

Pakistan approves Virtual Assets Act 2026, creating the PVARA to license and oversee all crypto service providers

2026/03/07 04:40
3 min read
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

Pakistan’s parliament has passed the Virtual Assets Act, 2026, which is the most comprehensive legal framework on digital assets put together in the country.

The Act also establishes the Pakistan Virtual Assets Regulatory Authority (PVARA) and gives it the mandate to license, regulate, and supervise all cryptocurrency service providers operating in the country.

PVARA stated that “the framework is designed to promote transparency, protect investors, and ensure the integrity and stability of the virtual assets market while enabling responsible innovation in financial technologies.”

PVARA Chairman Bilal Bin Saqib, who is also the CEO of the Pakistan Crypto Council, wrote on X, “A year ago, Pakistan’s digital asset landscape was defined by uncertainty and grey areas. Today, we have the country’s first Act of Parliament establishing a regulatory body for virtual assets, building on the Presidential Ordinance introduced in 2025.”

What powers does the new law give PVARA?

The newly commissioned PVARA has the power to impose penalties up to PKR 50 million (approximately $179,000) and five years’ imprisonment on exchanges, custodians, wallet operators, token issuers, lending platforms, and all others that operate without a license.

Unauthorized token offerings carry a separate penalty of up to PKR 25 million ($89,000) and three years in prison. Existing providers have six months to comply or cease operations.

According to PVARA, the legislation also equips it “with powers to address money laundering, terrorist financing, and other illicit activities associated with virtual assets, bringing Pakistan’s regulatory approach in line with international standards.”

Firms are also required to ensure that their services comply with Sharia law.

How has Pakistan prepared the ground ahead of the legislation?

In February 2026, PVARA formally launched a regulatory sandbox, a supervised environment allowing firms to test real-world use cases, including tokenization, stablecoins, remittances, and on- and off-ramp infrastructure under regulatory oversight.

In December 2025, PVARA granted No Objection Certificates (NOCs) to Binance and HTX, two of the world’s largest cryptocurrency exchanges.

In his recent post on X, Bin Saqib stated, “With NOCs already issued and banking rails being developed in coordination with the State Bank of Pakistan, we are now moving toward a comprehensive licensing framework aligned with global AML and financial integrity standards.

Around that same period, Pakistan’s finance ministry announced that it had signed a memorandum of understanding (MOU) with Binance to explore blockchain-based tokenization of up to $2 billion in government-backed real-world assets.

What does this mean for Pakistan and its neighbors?

Pakistan has one of the highest cryptocurrency adoption rates in the world, with PVARA estimating that between 30 and 40 million Pakistanis are active in digital assets, and industry-wide assessments put annual digital asset trading activity linked to Pakistan at more than $300 billion.

However, before the legislation, there was no framework regulating the space or looking after the millions of adopters.

Bin Saqib stated that he sought to fix the ambiguity in the sector, and this act seems to do just that.

The country’s passage of crypto law may add pressure on India, which leads global adoption surveys but continues to operate without an equivalent legislative framework, to speed up its own regulatory process.

If you're reading this, you’re already ahead. Stay there with our newsletter.

Market Opportunity
The AI Prophecy Logo
The AI Prophecy Price(ACT)
$0.01321
$0.01321$0.01321
+1.53%
USD
The AI Prophecy (ACT) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

American Bitcoin’s $5B Nasdaq Debut Puts Trump-Backed Miner in Crypto Spotlight

American Bitcoin’s $5B Nasdaq Debut Puts Trump-Backed Miner in Crypto Spotlight

The post American Bitcoin’s $5B Nasdaq Debut Puts Trump-Backed Miner in Crypto Spotlight appeared on BitcoinEthereumNews.com. Key Takeaways: American Bitcoin (ABTC) surged nearly 85% on its Nasdaq debut, briefly reaching a $5B valuation. The Trump family, alongside Hut 8 Mining, controls 98% of the newly merged crypto-mining entity. Eric Trump called Bitcoin “modern-day gold,” predicting it could reach $1 million per coin. American Bitcoin, a fast-rising crypto mining firm with strong political and institutional backing, has officially entered Wall Street. After merging with Gryphon Digital Mining, the company made its Nasdaq debut under the ticker ABTC, instantly drawing global attention to both its stock performance and its bold vision for Bitcoin’s future. Read More: Trump-Backed Crypto Firm Eyes Asia for Bold Bitcoin Expansion Nasdaq Debut: An Explosive First Day ABTC’s first day of trading proved as dramatic as expected. Shares surged almost 85% at the open, touching a peak of $14 before settling at lower levels by the close. That initial spike valued the company around $5 billion, positioning it as one of 2025’s most-watched listings. At the last session, ABTC has been trading at $7.28 per share, which is a small positive 2.97% per day. Although the price has decelerated since opening highs, analysts note that the company has been off to a strong start and early investor activity is a hard-to-find feat in a newly-launched crypto mining business. According to market watchers, the listing comes at a time of new momentum in the digital asset markets. With Bitcoin trading above $110,000 this quarter, American Bitcoin’s entry comes at a time when both institutional investors and retail traders are showing heightened interest in exposure to Bitcoin-linked equities. Ownership Structure: Trump Family and Hut 8 at the Helm Its management and ownership set up has increased the visibility of the company. The Trump family and the Canadian mining giant Hut 8 Mining jointly own 98 percent…
Share
BitcoinEthereumNews2025/09/18 01:33
Landmark Court Ruling Rejects Terrorism Financing Claims

Landmark Court Ruling Rejects Terrorism Financing Claims

The post Landmark Court Ruling Rejects Terrorism Financing Claims appeared on BitcoinEthereumNews.com. Binance Lawsuit Dismissed: Landmark Court Ruling Rejects
Share
BitcoinEthereumNews2026/03/07 10:27
The U.S. Commodity Futures Trading Commission unveiled a new logo, claiming it will usher in a "golden age" of innovation.

The U.S. Commodity Futures Trading Commission unveiled a new logo, claiming it will usher in a "golden age" of innovation.

PANews reported on March 7 that the U.S. Commodity Futures Trading Commission (CFTC) today unveiled a new logo, stating that it symbolizes the agency's commitment
Share
PANews2026/03/07 10:08