Pakistan's Virtual Asset Licensing System Takes Effect, Existing VASPs Must Apply by September 5

The Pakistan Virtual Asset Regulatory Authority (PVARA) has announced that the country's virtual asset licensing system is officially in operation. The system was established in less than six months, from the completion of foundational legislation to the release of regulatory guidelines and the opening of the licensing application process. According to Article 70 of the Virtual Assets Act of 2026, existing virtual asset service providers must submit their No Objection Certificate (NOC) applications by September 5, 2026, or they will be required to cease operations.

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