Jurisdiction reference
Pakistan
Regulator: SBP / SECP. License/registration context: Unclear. 15 VASP/entity records are tracked by Plexo Institute in Pakistan. Official registry source: SBP / SECP — official regulator. Data last updated: 2026-08-28.
Pakistan promulgated the Virtual Assets Ordinance 2025 on July 8, 2025, establishing PVARA as regulator. While the law is enacted, secondary regulations defining full licensing criteria remain under development. Exchanges operate under supervised preparatory status: Binance and HTX received No Objection Certificates (NOCs) in December 2025, allowing AML registration and license application preparation, but not full trading operations. No VASP licenses have been issued. The State Bank of Pakistan continues advising banks against crypto transactions pending full framework implementation.
Regulatory Status
- Jurisdiction code
- PK
- Regulator
- SBP / SECP
- Travel Rule
- In Progress
- Tracked entities
- 15
- Recognized stablecoin backing
- fiat-backed, commodity-backed
- Yield-bearing stablecoins
- Restricted
- Currency
- PKR
Regulatory approach
Independent federal regulator established July 2025 under Ministry of Finance oversight. 11-member board includes SBP Governor, SECP Chairman, FBR Chairman. Responsible for licensing VASPs, supervising stablecoin issuers, enforcing AML/CFT compliance. Currently developing secondary regulations and licensing infrastructure while supervising preparatory-phase exchanges.
Relationship Graph
Jurisdiction FAQ
Who regulates Pakistan?
The current Plexo Institute record lists SBP / SECP as the regulator for Pakistan.
How many VASPs are tracked in Pakistan?
15 VASP/entity records are tracked by Plexo Institute in Pakistan.
What is the Travel Rule status in Pakistan?
The current Plexo Institute record lists the Travel Rule status for Pakistan as In Progress.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.