Pakistan crypto licenses under the Pakistan Virtual Asset Regulatory Authority (PVARA) are formal authorizations for international VASPs to operate in Pakistan; applicants must hold recognized licenses (e.g., SEC, FCA, MAS), meet FATF-aligned compliance, and submit detailed Expressions of Interest outlining services, security and a Pakistan business model.
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Strict eligibility: licensed VASPs only (SEC, FCA, MAS, UAE VARA, EU framework)
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PVARA prioritizes anti-money‑laundering controls, technology standards and local market plans.
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Pakistan ranks 3rd in Chainalysis’ 2025 Global Crypto Adoption Index, opening remittance and tokenization opportunities.
Pakistan crypto licenses: PVARA invites licensed international VASPs to apply—submit EoIs with compliance, security and Pakistan-specific plans. Apply now via official PVARA process.
What are Pakistan crypto licenses under PVARA?
Pakistan crypto licenses are regulatory approvals issued by the Pakistan Virtual Asset Regulatory Authority (PVARA) that authorize international virtual asset service providers (VASPs) to offer trading, custody, payments and related services in Pakistan. The licenses require recognized prior licensing, FATF‑aligned controls and a Pakistan‑specific business model.
How can international VASPs apply for PVARA authorization?
International VASPs must submit an Expression of Interest (EoI) to PVARA including company profile, current licenses and jurisdictions, proposed services, technology and security standards, assets under management, revenues, compliance track record and a Pakistan business plan. Priority is given to firms already licensed by recognized regulators such as the US SEC, UK FCA, EU VASP framework, UAE VARA and Singapore’s MAS.
Pakistan has invited international crypto firms to apply for licenses under its regulatory authority PVARA, with strict criteria and global compliance standards.
Pakistan has opened the door to international crypto businesses, inviting leading exchanges and virtual asset service providers (VASPs) to apply for licenses under a new federal regime. The Pakistan Virtual Asset Regulatory Authority (PVARA) issued a call for Expressions of Interest (EoIs) to enter the country’s digital asset market.
“This EoI is our invitation to the world’s leading VASPs to partner in building a transparent and inclusive digital financial future for Pakistan,” said Bilal bin Saqib, PVARA chair and minister of state for crypto and blockchain. The authority is operating under the Virtual Assets Ordinance 2025.
Why does PVARA require prior licensing and global compliance?
PVARA limits eligibility to firms already licensed by recognized regulators to ensure experience, compliance and consumer protection. This requirement aligns Pakistan’s approach with international standards from the Financial Action Task Force (FATF), International Monetary Fund (IMF) and World Bank.
What entry criteria must applicants meet?
Submissions should include company profiles, existing licenses and jurisdictions, services proposed (trading, custody and payments), technology and security standards, assets under management, revenues, compliance track record and a Pakistan‑specific business model. PVARA explicitly highlights AML/CFT controls and technical resilience.
PVARA’s framework intends to curb illicit finance while unlocking fintech, remittance and asset tokenization opportunities. Regulatory sandboxes are planned to pilot innovations, including Shariah‑compliant products.
How does Pakistan’s crypto adoption context influence PVARA’s approach?
Pakistan surged to third place in Chainalysis’ 2025 Global Crypto Adoption Index, reflecting rapid retail and remittance-led adoption. That growth underpins government interest in formalizing access while managing systemic and financial‑stability risks.
Pakistan ranks third in global crypto adoption. Source: Bilal Bin Saqib
In May, Pakistan announced plans to establish a government-led Bitcoin Strategic Reserve and to allocate 2,000 megawatts of surplus electricity for Bitcoin mining and AI centers, an initiative backed by the Pakistan Crypto Council and the Ministry of Finance. The IMF later voiced concerns about subsidized power proposals for energy‑intensive industries.
Frequently Asked Questions
Which regulators’ licenses qualify an applicant?
Applicants should hold licenses from recognized authorities such as the US Securities and Exchange Commission (SEC), UK Financial Conduct Authority (FCA), the EU VASP framework, UAE Virtual Assets Regulatory Authority (VARA) and the Monetary Authority of Singapore (MAS).
How does PVARA assess AML/CFT readiness?
PVARA evaluates AML/CFT policies, transaction monitoring, KYC procedures, sanctions screening and the firm’s track record on compliance. Demonstrable FATF‑aligned controls are essential for approval.
Will local partnerships be required?
PVARA expects a Pakistan‑specific business model; partnerships with local financial institutions or service providers may strengthen applications and operational readiness.
Key Takeaways
- Eligibility: Only internationally licensed VASPs (recognized regulators) are targeted for initial approvals.
- Compliance focus: FATF‑aligned AML/CFT, security standards and a Pakistan business model are mandatory.
- Market context: High crypto adoption and government initiatives (Bitcoin reserve, mining allocation) drive regulatory openings.
Conclusion
PVARA’s invitation marks a major step in formalizing Pakistan’s crypto market by granting Pakistan crypto licenses to vetted international VASPs. The approach balances rapid adoption with strict compliance standards and positions Pakistan to expand remittances, tokenization and regulated crypto services. Interested firms should prepare detailed EoIs demonstrating regulatory experience and Pakistan‑specific plans.
