ISLAMABAD: The government has decided to establish the “Pakistan Virtual Assets Regulatory Authority” to oversee digital assets.
According to sources, the federal cabinet has approved the creation of this new regulatory body. It will operate as an independent authority and will develop a legal framework for digital assets.
Sources say the authority will be responsible for issuing licenses for virtual asset businesses and will work in line with the FATF (Financial Action Task Force) framework.
The establishment of this authority is seen as a step toward regulating the growing digital and crypto market in Pakistan, which has so far remained largely unregulated. Officials believe that proper oversight will help prevent financial crimes and ensure consumer protection.
Experts have welcomed the move, saying it will bring clarity and legal structure to the virtual assets sector. However, they also stress the need for transparent policies and collaboration with stakeholders to ensure effective implementation.
