Pakistan has opened the door to worldwide crypto companies, inviting main exchanges and digital asset service suppliers (VASPs) to use for licenses below a brand new federal regime.
On Saturday, the Pakistan Virtual Asset Regulatory Authority (PVARA) referred to as on main crypto companies to submit Expressions of Interest (EoIs) to enter the nation’s digital asset market, in accordance to a report by native information outlet Dawn.
“This EoI is our invitation to the world’s main VASPs to companion in constructing a clear and inclusive digital monetary future for Pakistan,” stated Bilal bin Saqib, PVARA chair and minister of state for crypto and blockchain.
Eligibility is restricted to companies already licensed by acknowledged regulators, together with the US Securities and Exchange Commission (SEC), the UK Financial Conduct Authority, the EU’s VASP framework, the UAE’s Virtual Assets Regulatory Authority and the Monetary Authority of Singapore.
Related: Demographics will ‘leapfrog’ Bitcoin adoption in Pakistan — Bilal Bin Saqib
Pakistan units strict entry standards
Submissions ought to embody firm profiles, present licenses and jurisdictions, providers proposed (equivalent to buying and selling, custody and funds), know-how and safety requirements, property below administration, revenues, compliance monitor report and a Pakistan‑particular enterprise mannequin.
PVARA stated the framework goals to curb illicit finance whereas unlocking fintech, remittance, and tokenization alternatives, together with Shariah‑compliant merchandise through regulatory sandboxes.
PVARA, arrange below the Virtual Assets Ordinance 2025, is tasked with licensing, regulating and supervising VASPs in keeping with requirements set by the Financial Action Task Force (FATF), International Monetary Fund (IMF) and World Bank.
Related: Pakistan’s crypto minister, El Salvador’s president talk about Bitcoin technique
Pakistan ranks third in international crypto adoption
As Cointelegraph reported, Pakistan surged to 3rd place in Chainalysis’ 2025 Global Crypto Adoption Index, climbing six spots and rising as one of many world’s fastest-growing crypto markets.
In May, Pakistan introduced plans to determine a government-led Bitcoin Strategic Reserve. Speaking on the Bitcoin 2025 convention in Las Vegas, Bilal Bin Saqib stated the transfer displays Pakistan’s new pro-crypto regulatory method.
The nation additionally earmarked 2,000 megawatts of surplus electrical energy for Bitcoin (BTC) mining and AI facilities as a part of an initiative led by the Pakistan Crypto Council and supported by the Ministry of Finance.
However, in July, the IMF expressed issues concerning Pakistan’s plan to make use of surplus electrical energy for crypto mining, rejecting a proposal to supply backed energy to energy-intensive industries, together with Bitcoin miners.
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