Pakistan’s push to regulate and adopt digital assets gained momentum on Thursday as the State Bank of Pakistan (SBP) held a meeting with the chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA). The engagement marked another step towards shaping a formal virtual assets framework in the country.
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According to a post on X by PVARA Chairman Bilal bin Saqib, the meeting with SBP Governor Jameel Ahmad focused on digital asset adoption, the rollout of a central bank digital currency (CBDC), and Pakistan’s broader regulatory roadmap. Discussions also touched on aligning financial stability with emerging technologies.
Pakistan takes a decisive step toward a regulated digital asset future.
Pakistan Virtual Assets Regulatory Authority (PVARA) has issued NOCs to Binance and HTX, launching a phased, FATF-aligned pathway toward full licensing. Strong governance, AML and CFT compliance remain… pic.twitter.com/jSk6JTqvFt
— Pakistan Virtual Assets Regulatory Authority (@PakistanVARA) December 12, 2025
The State Bank of Pakistan (SBP) and the Pakistan Virtual Assets Regulatory Authority (PVARA) today held talks for releasing a virtual currency and developing a
Read More: https://t.co/vVUbTMrKud pic.twitter.com/cYipXtFwkU
— ProPakistani (@ProPakistaniPK) December 18, 2025
The Pakistan Virtual Assets Ordinance 2025, promulgated by President Asif Ali Zardari on July 8, laid the foundation for licensing and supervising virtual assets and service providers. Following the ordinance, PVARA was established to oversee virtual asset and blockchain-related activities nationwide.
In parallel, the Ministry of Finance has signed a memorandum of understanding with global digital-asset firm Binance to explore collaboration in areas such as tokenisation. The initiative could include tokenising up to $2 billion in state-owned assets.
Finance Minister Muhammad Aurangzeb said the proposed framework may involve blockchain-based issuance of sovereign bonds, treasury bills, and commodity reserves including oil, gas, and metals. He described the move as a signal of Pakistan’s reform trajectory and commitment to execution.
PVARA has also issued preliminary no-objection certificates to Binance and HTX, allowing them to begin local licensing processes. However, the clearances do not yet permit operational activity in Pakistan.
Read More: Crypto revolution: Pakistan to launch digital asset regulatory authority
Bilal bin Saqib said Pakistan ranks as the world’s third-largest crypto market by retail participation, with an estimated 40 million users and annual trading volumes exceeding $300 billion. Meanwhile, the SBP has reiterated plans to launch a pilot digital currency as part of financial system modernisation.