Business Desk 
Jul 30, 2025
The Prime Minister Shehbaz Sharif-led government has started implementing its virtual asset regulatory framework for crypto operations in Pakistan.
During a high-level meeting in Islamabad with banks, exchange companies, and jewellery sector representatives, the government aimed to brief stakeholders on the Virtual Assets Act, 2025, which was formally approved on July 9, 2025, following clearance from the cabinet, prime minister, and president.
The law establishes the Pakistan Virtual Asset Regulatory Authority (PVARA) to license, regulate, and monitor entities dealing in virtual assets, including cryptocurrencies.
Notably, PVARA is set to ensure compliance with international standards such as those of the Financial Action Task Force (FATF).
Exchange companies and banks were informed they would be granted licenses to operate in the virtual asset sector under the new law.
During the meeting, State Bank of Pakistan (SBP) Governor Jameel Ahmed also reiterated that the central bank is finalising legislation for a central bank digital currency (CBDC) and plans to launch a pilot project.
The SBP and Finance Division are currently engaged with the Pakistan Crypto Council to develop an appropriate legal and regulatory framework for virtual assets.
Notably, one banker hinted at the possibility of opening field offices in major cities to make “virtual assets easily accessible and promote virtual transactions.”
