Islamabad, July 30, 2025: The federal government has officially started enforcing its new regulations on virtual assets, giving a major push to the growing crypto business in Pakistan.
A senior-level session was held in Islamabad on Tuesday, where officials from banks, currency exchange firms, and the gold market were briefed.
The purpose of the session was to inform key sectors about the Virtual Assets Act, 2025, which officially got the green signal on July 9, 2025, after approval from the Cabinet, Prime Minister, and President.
READ MORE: Pakistan Crypto Market Becomes 8th-Largest
Under this law, a new authority called the Pakistan Virtual Asset Regulatory Authority (PVARA) has been created. It will be responsible for issuing licenses, regulating businesses involved in virtual assets, and making sure these operations meet global standards, including those set by the Financial Action Task Force (FATF).
Banks and exchange companies were notified that they’ll be eligible for licenses to enter the crypto business under the fresh legal structure.
READ MORE: Pakistan Steps Closer to Regulating Crypto: Reviews New Legal Framework
Governor of the State Bank, Jameel Ahmed, also spoke at the event, noting that the central bank is in the final stages of preparing rules for launching a central bank digital currency (CBDC). He added that a pilot run will be launched soon.
This meeting comes after the government’s February 2025 announcement about forming the Pakistan Crypto Council, which will guide national policy and the growth of virtual assets in Pakistan.
