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Pakistan sets Sept. 5 deadline for crypto licensing or service exit
Crypto providers operating in Pakistan after the Sept. 5 cutoff must stop affected services, and regulators may impose interim limits during the NOC review.
Pakistan has given crypto platforms until Sept. 5 to enter the country’s new licensing regime or stop serving the market, shifting policy toward formal supervision, according to CryptoSlate.
The Pakistan Virtual Assets Regulatory Authority, or PVARA, opened a licensing portal on Aug. 22 after issuing final virtual-asset service regulations the day before. The Virtual Assets Act took effect on March 5, and the Sept. 5 deadline applies to providers already operating in Pakistan.
Firms in scope must submit an application for a no-objection certificate, or NOC, which acts as preliminary clearance while PVARA reviews the filing. CryptoSlate reports that a timely, complete application allows existing providers to continue offering current services during the review, though PVARA can impose interim limits on onboarding, products, transaction volumes, or custody.
Providers that do not apply by Sept. 5 must stop affected services, and PVARA has said continuing to operate without an application after the deadline will be an offense. The rules are framed as a comply-or-exit framework rather than a nationwide ban, and receiving an NOC does not equal a full virtual-asset service provider license.