Virtual Assets Act 2026 Enacted, Making PVARA Pakistan’s Permanent Crypto Regulator

Overview

• President Asif Ali Zardari signed the law after Senate approval on February 27 and National Assembly passage on March 3.
• PVARA gains statutory powers to license, supervise, suspend, and revoke permissions for exchanges, custodians, brokers, and token issuers.
• The licensing regime demands recognition in major jurisdictions, minimum capital, FMU anti–money-laundering registration, local incorporation, and Shariah review of products.
• Unlicensed activity can draw fines up to PKR 50 million or five years in prison, with separate penalties up to PKR 25 million and three years for illegal promotions or fundraising.
• Binance and HTX hold PVARA No Objection Certificates and have begun compliance steps, while the framework is linked to plans for a Bitcoin reserve, roughly 2,000 MW for mining and data centers, and an MoU exploring stablecoin-based cross-border payments.