Pakistan Launches Cryptocurrency Exchange Licensing Process

PVARA Opens Applications for Crypto Licences

Pakistan launches cryptocurrency exchange licensing process as the Pakistan Virtual Assets Regulatory Authority (PVARA) invites global service providers to apply. The move represents a major step toward regulating one of the world’s largest unregulated digital markets, while also ensuring compliance with international standards.

Pakistan’s Crypto Market is Among the World’s Largest

Experts estimate that around 40 million Pakistanis are active in cryptocurrency trading. The market’s annual volume, close to $300 billion, highlights both its size and the urgency for regulation. By licensing exchanges, the government hopes to bring these activities under formal oversight, improve transparency, and attract foreign investment into the fintech sector.

Strict Requirements for Applicants

Under the new framework, only companies with approvals from recognised global regulators will qualify for licences. Applicants must also follow strict “Know Your Customer” (KYC) protocols and submit corporate disclosures. These measures, according to officials, are designed to prevent illegal financial flows while encouraging a secure environment for innovation in digital finance.

Pakistan Crypto Council to Drive Integration

This licensing process builds on the government’s earlier decision to establish the Pakistan Crypto Council (PCC). The PCC is tasked with integrating blockchain technology and digital assets into the financial system. It is chaired by Finance Minister Muhammad Aurangzeb, with representation from the State Bank, SECP, IT Ministry, and Law Ministry.

Positioning Pakistan in the Global Blockchain Economy

With the launch of its licensing regime, Pakistan aims to balance innovation with oversight. Officials believe that the combined efforts of PVARA and the PCC will create a sustainable ecosystem, align with global regulatory practices, and strengthen Pakistan’s role as an emerging fintech hub.

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