GenzeePakistan's Crypto Regulator Wraps Up Consultation on Licensing Rules
The Pakistan Virtual Assets Regulatory Authority (PVARA) closed a public consultation on 2 July 2026 covering the draft rules it will use to license crypto exchanges, brokers, custodians and other virtual asset firms operating in the country.
What the draft rules cover
According to coverage from Digital Watch Observatory and Pakistan Today, the consultation, which ran from 11 June to 2 July, set out a ten-category licensing framework spanning exchange activity, brokerage and dealing, custody and wallet services, token issuance, and NFT or marketplace platforms. A no-objection-certificate-to-licence pathway is expected to let early applicants operate under sandbox-style supervision while full licensing details are finalised.
Why it matters if you hold crypto
PVARA became a permanent statutory regulator after parliament passed the Virtual Assets Act earlier in 2026, and unlicensed crypto activity now carries real penalties, including fines up to PKR 50 million. Pakistan Today also reported that PVARA's leadership has been pushing Islamic scholars to assess asset-backed tokens separately from purely speculative coins under Shariah guidance. For anyone in Pakistan buying, selling or tracking crypto gains, the direction of travel is toward formal registration rather than the grey-market status quo — worth factoring in before you trade.
If you are tracking gains across wallets, our Crypto Profit Calculator can help you work out your actual profit or loss once fees are included.
Note: This is a plain-language summary, not tax/financial advice. Rates and rules can change; verify your specific case with the relevant authority or a qualified professional. See our editorial policy for how we source and date these updates.