Pakistan has issued the Virtual Assets Regulatory Authority Ordinance 2025, creating a new authority to regulate digital assets across the country. The President of Pakistan signed the ordinance, which takes effect immediately. It introduces rules for people and companies who work with virtual assets like cryptocurrency, tokens, and digital exchanges. The aim is to protect users, stop illegal activity, and grow the digital economy under strict oversight.
The newly formed Virtual Assets Regulatory Authority (VARA) will work as a corporate body. It will have the power to buy property, make deals, and take legal action when needed. Its head office will be in Islamabad, but it can also set up regional offices across Pakistan. The authority can issue, suspend, or cancel licenses of any company that deals with virtual assets. Importantly, no one will be allowed to offer such services without a license.
Moreover, VARA will write rules to monitor digital assets, stop money laundering, and prevent the funding of terrorism. It will also check whether companies follow financial rules. If they don’t, it can fine them or cancel their license. VARA can ask for records, call people in for questioning, and even shut down illegal services. These powers give the authority strong control over this growing sector.
The governing board of VARA will include a chairman and two members from the finance and law ministries. They can also add experts as advisors. Members will serve for three years. Anyone who wants a license will have to pay a set fee and go through background checks. VARA will check their finances and criminal records before approving the license. The goal is to allow only safe and qualified operators in the digital asset space.
This ordinance marks a major step for Pakistan in the world of virtual finance. It provides a legal way to manage cryptocurrencies and digital trading. It also sends a message to international partners that Pakistan is serious about financial safety and digital growth. With clear laws and strong enforcement, the government hopes to make the virtual asset market secure and trusted for everyone.