Pakistan has formally opened its licensing process for virtual asset service providers under the Virtual Assets Act, 2026, establishing a regulatory framework for companies operating in the country’s digital asset market.
Under the framework, all Virtual Asset Service Providers must obtain a formal license before offering services in Pakistan. The Pakistan Virtual Assets Regulatory Authority, or PVARA, is accepting applications for regulatory sandboxes, No Objection Certificates and VASP licenses.
The licensing regime is aimed at ensuring that only legitimate, qualified and accountable companies operate in Pakistan’s virtual asset market, while strengthening consumer protection and market integrity.
Licensed entities will be required to comply with operational and security standards covering the protection of customer funds, cybersecurity, disclosures and transparent business practices.
PVARA said Pakistan has moved from primary legislation to notified regulations and an open licensing process in less than six months, marking a significant step toward integrating the country into the global digital asset economy.
Under Section 70 of the Virtual Assets Act, 2026, existing virtual asset service providers must submit applications for No Objection Certificates by Sept. 5, 2026, or cease operations.
The authority said the new framework provides clear rules, regulatory oversight and accountability for participants in the virtual asset sector.
Applications and licensing details are available through PVARA’s official licensing portal.
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