Pakistan's Parliament Green Lights The Virtual Assets Act

Pakistan's parliament, including the Senate and National Assembly, passed the Virtual Assets Act, 2026, which legally formalizes oversight of the country's crypto industry and establishes the Pakistan Virtual Assets Regulatory Authority (PVARA) as the primary digital asset regulator. PVARA, established in July 2025, is now empowered to enforce licensing, oversight, and international sanctions compliance, including anti-money laundering (AML) provisions. PVARA Chairman Bilal Bin Saqib noted that they are moving toward a comprehensive licensing framework aligned with global AML standards. The bill now awaits the signature of President Asif Ali Zardari to become law. This move reverses previous regulatory pushback, as Pakistan now views digital assets and blockchain technology as critical infrastructure, aiming to become a crypto hub, supported by initiatives like dedicating electricity for mining and exploring stablecoin use for payments.

(Source：Cointelegraph)