Pakistan Makes Bold Crypto Move: Invites Builders As Virtual Assets Act Advances!
Pakistan has unveiled a comprehensive new regulatory framework for virtual assets, lifting a decade-long ban on crypto. The Virtual Assets Act introduces licensing regulations to integrate virtual assets into the formal economy, protect consumers, and invite foreign businesses to operate under clear rules. This move follows previous crypto-friendly initiatives, including plans for a national strategic Bitcoin reserve and allocating electricity for Bitcoin mining.David Isong • Crypto • 10 hours ago • 1 minute read •
Pakistan has officially announced a new regulatory framework for virtual assets, effectively ending a ban that had been in place for close to a decade. The announcement, made by Bilal Bin Saqib, the special assistant to the prime minister on blockchain and cryptocurrency, signifies a major pivot towards integrating virtual assets into the country's formal economy. Saqib, who is also the Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), extended an invitation to foreign businesses to establish operations within Pakistan, emphasizing that the country's
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