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The Pakistan Virtual Assets Regulatory Authority (PVARA) has released the draft "2026 Virtual Asset Service Regulations" and supporting business guidelines, and has initiated a public consultation. The deadline for feedback is July 2.
The draft aims to establish a licensing and regulatory framework for Virtual Asset Service Providers (VASPs), covering business categories such as exchanges, custody, brokerage, proprietary trading, derivatives, and mining, and includes requirements for governance structure, customer asset segregation, cybersecurity, risk management, and anti-money laundering.
Under the new law, all VASPs operating in Pakistan must obtain a license.