ECC Approves Rs800m Grant to PVARA, Paving Way for Pakistan’s Crypto Regulation
Pakistan’s first virtual asset regulator will oversee crypto, tokens, and digital currencies.
The Economic Coordination Committee (ECC) of the Cabinet has approved an allocation of Rs800 million as a Technical Supplementary Grant (TSG) to support the Pakistan Virtual Asset Regulatory Authority (PVARA), a key step toward regulating the country’s digital asset market.
The decision was taken at an ECC meeting held on Thursday at the Finance Division, chaired virtually by Finance Minister Senator Muhammad Aurangzeb from New York. Senior cabinet members and officials from regulatory bodies were also in attendance.
Funding to operationalize PVARA
The Rs800 million grant is expected to help operationalize the newly established PVARA, which has been tasked with overseeing Pakistan’s fast-growing digital assets sector, including cryptocurrencies, tokens, and blockchain-based financial products. The authority is expected to use the funds for staffing, infrastructure, and the development of regulatory frameworks.
Government officials have said the move reflects Pakistan’s intent to bring virtual asset activities under a structured and secure regulatory environment, aligning with global standards on financial transparency and anti-money laundering.
Rs800m Grant to PVARA: Significance of the move
By empowering PVARA, the government aims to strike a balance between fostering innovation in digital finance and safeguarding investors from potential risks associated with unregulated virtual currencies. Analysts believe the step could also help Pakistan tap into the economic opportunities of blockchain and fintech while addressing concerns raised by the Financial Action Task Force (FATF) over virtual asset oversight.
The Rs800m ECC allocation is an important, practical signal: Pakistan is moving from legislation to institutional implementation. If PVARA uses the funds to build transparent licensing, strong AML/CFT supervision and international cooperation, it can both protect consumers and open the door to fintech investment. But success will depend on skilled staffing, robust systems and credible enforcement, not just box-ticking rulebooks.
ALSO READ: Virtual Assets Bill 2025 Paves Way for Legal Cryptocurrency in Pakistan
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