Pakistan Establishes Cryptocurrency Regulatory Authority (PVARA)

08 July, 2025, 02:30 PM

Pakistan has officially launched the Pakistan Virtual Asset Regulatory Authority (PVARA) to oversee its burgeoning cryptocurrency industry. This independent body, as reported by Cointelegraph, signifies a major step towards legitimizing and regulating digital assets within the country. The PVARA will be responsible for authorizing, supervising, and managing Virtual Asset Service Providers (VASPs) operating in Pakistan. Its primary goal is to establish a robust regulatory framework that aligns with international standards, particularly the guidelines set forth by the Financial Action Task Force (FATF). This move is expected to enhance transparency, prevent money laundering and terrorist financing risks associated with cryptocurrencies, and foster a safer environment for investors. The establishment of PVARA demonstrates Pakistan's commitment to embracing technological advancements while mitigating potential risks. ```