Pakistan has opened the door to the international crypto businesses, inviting the leading exchanges and virtual providers of the Vasant (Vasp) to apply for licenses under a new federal regime.
On Saturday, Pakistan Virtual Asset Regulatory Authority (PVARA) called on major crypto companies to submit interest expressions (EOI) to enter the country’s digital asset market, According to In a report by the local news outlet Dawn.
“This EOI is our invitation to the world’s leading Vasp the partner in developing a transparent and inclusive digital financial future for Pakistan,” said Bilal Bin Saqib, Pvara chair and state minister for crypto and blockchain.
Being eligible is limited to companies licensed by recognized regulators, including the US Securities and Exchange Commission (SEC), the UK Financial Conduct Authority, the Vasp Framework of the EU, the Virtual Assets Regulatory Authority of the UAE and the Singapore’s Monetary Authority.
Related: Demographics are ‘leapfrog’ bitcoin adoption in Pakistan – bilal bin saqib
Pakistan sets strict entry standard
Submissions should include company profiles, existing licenses and jurisdictions, suggested services (such as trading, caution and payment), technology and security standards, ownership under management, income, track compliance and a model of Pakistan’s specific business.
Pvara said the plot aims to prevent illicit financials while unlocking fintech, remittance, and tokenization opportunities, including Shariah products – through sandbox regulations.
Breeches, I -set up under the Virtual Assets Ordinance 2025.
Related: The Minister of Crypto of Pakistan, the President of El Salvador discussed the approach to Bitcoin
Pakistan ranks on the 3th of the Crypto global adoption
As Cointelegraph reported, Pakistan Surged in third place in Chainalysis’ 2025 Global Crypto Adoption IndexClimbing six spots and emerging as one of the fastest growing crypto markets in the world.
In May, Pakistan revealed plans to be established A strategic reserve -led strategic reserve. Speaking at the Bitcoin 2025 conference in Las Vegas, Bilal Bin Saqib said the move reflects the new approach to Pakistan’s regulation.
The country too Already exploding 2,000 megawatts of excess electricity for bitcoin (Btc) Mining centers and AI as part of an initiative led by the Pakistan Crypto Council and supported by the Ministry of Finance.
However, in July, the IMF expressed concerns about Pakistan’s plan to use excess electricity for crypto mining, refusing a proposal to offer subsidized power to intensive energy industries, including Bitcoin miners.
