Pakistan opens doors for international crypto companies
Date: 2025-09-15 Author: Oliver Abernathy Categories: IN WORLD
The Pakistan Virtual Asset Regulatory Authority (PVARA) has approached the world's largest crypto players with an offer to join the country's emerging ecosystem. As reported by local media, the agency intends to make cooperation with international companies the basis of the future digital financial sector.
The organization received the authority to license and monitor the activities of virtual asset service providers (VASP). PVARA claims to adhere to FATF, IMF and World Bank standards, ensuring strict measures against money laundering, terrorist financing and cyber security threats.
According to the Ministry of Finance, the cryptocurrency market of Pakistan already has more than 40 million users, and its annual turnover is estimated at more than 300 billion dollars.
PVARA Chairman and Minister of Cryptocurrencies and Blockchain Bilal bin Saqib noted that the invitation is aimed at creating a "transparent and inclusive digital future." He emphasized that Pakistan wants to see those players who have international reputation and experience.
Only companies and exchanges already licensed by leading regulators, including SEC in the USA, FCA in Great Britain, EU VASP system, VARA in the UAE and MAS in Singapore, are allowed to participate. Applications must contain detailed information about the business profile, list of services, technical solutions and security measures. In addition, it will be necessary to disclose assets under management, financial indicators, history of compliance with standards and present a model of work in Pakistan.
Back in the spring, Sakib, serving as an adviser to the prime minister, presented a plan for the formation of a national bitcoin reserve. Then the authorities also announced their intention to allocate 2 GW of excess electricity for mining and support of data centers serving cryptocurrency projects and artificial intelligence.
However, these initiatives caused concern on the part of the IMF. The organization needed official explanations about the legal basis, as well as about the redistribution of energy in the context of its chronic shortage in the country.
Thus, Pakistan is trying to combine its ambitions to create a crypto-oriented economy with the requirements of international institutions. The country strives to turn its rapidly growing market into a platform for global cooperation, while simultaneously facing challenges in the field of energy and regulatory harmonization.
