Introduction of Virtual Assets and Trust
The Pakistan government announced on July 8 the launch of the Pakistan Virtual Assets Regulatory Authority (PVARA), a body charged with virtual asset service providers. This independent body is set to license, monitor, and supervise VASPs, ensuring the nation’s growing digital finance sector aligns with international best practices and Financial Action Task Force (FATF) guidelines.
In a statement, the Ministry of Finance said cabinet approval of PVARA marks a “critical inflection point” in Pakistan’s journey toward a comprehensive legal and institutional framework for digital assets. Once legislated, PVARA will be responsible for issuing licenses, setting technical standards, coordinating compliance with FATF and World Bank guidelines.
The body also expected to oversee public protection mechanisms, anti-money laundering protocols and cyber risk mitigation for all virtual asset transactions nationwide.This coordinated approach, which integrates sovereign asset reserves, the deployment of surplus energy for digital asset activities, and robust regulation, underscores Pakistan’s ambitious vision to become a leading digital assets hub in South Asia.
By fostering trust, attracting foreign investment, and stimulating innovation within the blockchain sector, Pakistan aims to lay the groundwork for a secure, inclusive, and future-proof digital economy.
The introduction of the regulatory body came just months after the launch of the Pakistan Crypto Council (PCC) in March. Since then, the PCC has spearheaded a nationwide drive to responsibly regulate and enable blockchain technology, digital currencies, and tokenized assets in an innovation-friendly manner. The council has also brought in international blockchain leaders and experts, including former Binance CEO Changpeng Zhao, as strategic advisors to help shape Pakistan’s regulatory outlook.
Its composition includes key institutional stakeholders such as the chairman of the Securities and Exchange Commission of Pakistan, the State Bank governor, and federal secretaries of the Law and Information Technology divisions, ensuring a holistic, “whole-of-government” approach to digital asset regulation.
Further demonstrating its commitment, the government announced on May 28 — at the Bitcoin 2025 Conference in Las Vegas — the formation of Pakistan’s first Strategic Bitcoin Reserve. This sovereign reserve is intended to hold Bitcoin for long-term national benefit and macroeconomic resilience.
The Pakistan government has also allocated 2,000 megawatts of surplus electricity specifically for Bitcoin mining and artificial intelligence (AI) data centers. This move leverages Pakistan’s untapped energy potential to power the future of digital finance and computation. The Ministry of Finance stated that strategic partnerships are currently underway to ensure that this energy-intensive blockchain infrastructure is both sustainable and revenue-generating.
Industry sources indicate that the country boasts over 40 million crypto users and an estimated annual trading volume of $300 billion. Despite previous regulatory ambiguity, Pakistani youth have shown early and enthusiastic adoption of blockchain technologies, with more than 70% of the population being under the age of 30, positioning Pakistan uniquely in the global digital asset landscape.
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