Pakistan Launches Virtual Asset Licensing Regime for Crypto Businesses

Pakistan has officially opened its virtual asset licensing process, marking a major step toward bringing digital asset businesses under a formal regulatory framework.

The new regime follows the introduction of the Virtual Assets Act, 2026, and the notification of related regulations. The process has moved from legislation to actual licensing in less than six months.

Pakistan Launches Virtual Asset Licensing Regime for Crypto Businesses

Licensing Process Is Now Open

Under Section 70 of the Virtual Assets Act, 2026, existing virtual asset service providers operating in Pakistan are required to apply for a No Objection Certificate (NOC).

The deadline for submitting NOC applications is September 5, 2026. Service providers that fail to submit their applications by the deadline will be required to stop their operations.

The licensing process will also give regulators greater oversight of businesses working in the digital asset sector.

Pakistan Moves Toward Regulated Digital Assets

The launch of the licensing regime signals a shift in Pakistan’s approach to virtual assets. Instead of leaving the sector largely outside a formal framework, the government is introducing rules for businesses involved in digital asset services.

The framework is designed to establish clearer requirements for service providers while improving regulatory supervision and accountability.

It could also provide businesses with a more defined path to operate within Pakistan’s emerging digital asset economy.

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Opportunity for the Digital Asset Industry

The new framework could help Pakistan attract companies and investment from the growing global digital asset industry.

A clear licensing system can provide businesses with greater certainty about regulatory requirements. At the same time, oversight can also help authorities address risks associated with digital asset services.

For existing virtual asset service providers, however, meeting the new requirements will be important. Companies that do not submit their NOC applications by the September 5 deadline could be required to cease operations.

What Happens Next?

The licensing process is now open, and existing virtual asset service providers are expected to take the necessary steps before the deadline.

The development represents an important stage in Pakistan’s efforts to establish a regulated digital asset market. With legislation, regulations and licensing now being put into place, the country is positioning itself to participate more formally in the global digital asset economy.

More information about the licensing process, requirements and application procedure is available through the Pakistan Virtual Assets Regulatory Authority (PVARA).

PVARA Licensing Portal