Crypto
Home›Crypto›Regulation›Pakistan opens crypto licensing portal, requires NOC b…
Pakistan opens crypto licensing portal, requires NOC by Sept. 5
Existing virtual asset providers operating in Pakistan on or before March 5 must apply for a no-objection certificate by Sept. 5 or stop serving the market.
Pakistan’s Virtual Assets Regulatory Authority has opened a licensing portal for crypto exchanges and other virtual asset service providers, and set Sept. 5 as the deadline for existing operators to seek a no-objection certificate.
According to Cointelegraph, firms providing virtual asset services on or before March 5 must submit an application by Sept. 5, with PVARA saying that operating after the deadline without applying will be an offense.
The move shifts Pakistan’s crypto framework from legislation into enforcement, bringing activities such as exchanges, custody, broker-dealer services, lending, derivatives, asset management, token issuance, and certain mining-related services under a formal licensing process.
PVARA also said licensed providers will need to keep customer holdings separate from their own assets and cannot lend or pledge them without written consent, alongside requirements covering governance, market conduct, cybersecurity, operational resilience, and anti-money laundering and counter-terrorism financing controls.