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Pakistan launches crypto regulatory regime in under six months with $200,000

The virtual asset framework spans exchanges, custody, brokerage, asset management, lending, and settlement, with requirements covering AML, cybersecurity, and customer asset safeguarding.

Reported · Written up by our desk · Regulation

Pakistan has launched its virtual asset regulatory regime in under six months, using about $200,000 to build and operationalize the framework, according to Bilal Bin Saqib, Pakistan’s Minister of State and chairman of the Pakistan Virtual Assets Regulatory Authority, speaking at Bitcoin Asia on August 28.

Bin Saqib said the country used only 8% of its approved budget to get the system running, leaving roughly 92% unspent, and he argued success should be measured by delivery rather than money spent.

The rollout moved Pakistan from primary legislation to notified regulations and a live licensing regime, creating a formal pathway for companies in the digital asset sector.

The framework covers activities including exchanges, custody, brokerage, asset management, lending, and settlement, and includes requirements on governance, anti-money laundering and counter-terrorism financing, customer asset safeguarding, cybersecurity, and market conduct, Bitcoin Magazine said.

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