Business Desk 
Dec 14, 2025
The Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib on Sunday announced that the no-objection certificates (NOCs) issued to global cryptocurrency exchanges Binance and HTX were not a “blanket approval” but the first step under a “risk-mitigated, phased, supervised entry framework”.
Addressing a press conference in Islamabad, the PVARA chairman stated Pakistan has — for the first time — opened a “regulated, transparent and globally compliant pathway” for global exchanges, labelling the issuance of the NOCs as a practical step towards a new regulatory vision.
"The newly introduced framework will enable effective monitoring of anti-money laundering measures and counter-terrorism financing, and stressed that timely and informed decision-making within the financial system is essential," added Bilal.
Pakistan aims to become a global model in digital assets regulation and the country will strengthen its sovereignty through technology over the next decade.
On Friday, Pakistan signed a Memorandum of Understanding (MoU) with Binance to explore the "tokenisation" of up to $2 billion in the country’s assets.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, in a statement, stated: "The MoU establishes a framework for exploring potential collaboration on the tokenisation and blockchain-based distribution of Pakistan's real-world and sovereign assets.
Last week, at the Bitcoin MENA 2025, Bilal delivered a defining message on Pakistan's digital asset ambitions during a high-profile panel alongside Antalpha COO Derar Islim. "Pakistan is ready for innovation, as it is not chasing the future, but is trying to build a new one," said Bilal, emphasising the country’s demographic strength, with over 70% of the population under the age of 30.
