Companies must apply for licenses under new regulations to avoid legal action, aiming to curb fraud and formalize the sector.
Pakistan’s Virtual Assets Regulatory Authority has set a September 5 deadline for crypto firms to register or face shutdown. Companies operating before March 5 must apply for a No Objection Certificate to continue services legally, the agency said.
The framework, introduced under the Virtual Assets Act 2026, covers exchanges, custody, lending, derivatives, and token issuance. Firms must meet capital requirements and comply with local incorporation rules. The regulator aims to reduce fraud and integrate crypto into export financing and remittances.
Applications for full licenses and a regulatory sandbox are also open. Operating without registration after the deadline will be considered an offense under Section 70 of the act.