Pakistan Opens Crypto Licensing Portal

Pakistan’s new Virtual Assets Regulatory Authority has officially launched a licensing portal for cryptocurrency service providers, marking the implementation of the country’s most structured framework for the digital asset sector. The move, announced on August 24, 2026, requires companies that were already operating locally to apply for a no-objection certificate (NOC) by September 5, 2026, or cease operations.

The licensing regime, established under the Virtual Assets Act of 2026, provides a formal pathway for virtual asset service providers (VASPs) to gain regulatory approval. PVARA stated that the licensing window creates a clear pathway for businesses to enter Pakistan’s regulated virtual asset market. The authority has defined multiple license categories covering advisory services, broker-dealer operations, custody, exchanges, lending and borrowing, derivatives, asset management, transfer and settlement, token issuance, and mining-related services.

According to the regulations, companies that were providing virtual asset services on or before March 5, 2025, fall under transitional provisions and must submit their NOC application through the portal by the deadline. The NOC...