ISLAMABAD: In a major step towards formalising its digital finance sector, the federal cabinet has approved the creation of the Pakistan Virtual Assets Regulatory Authority (PVARA). The new body will serve as an independent regulator for digital assets, responsible for licensing and supervising Virtual Asset Service Providers (VASPs).
PVARA will align its operations with international standards set by the Financial Action Task Force (FATF). It will also enforce anti-money laundering (AML) rules, set technical standards, and oversee cyber risk management in virtual asset transactions.
This decision follows the launch of the Pakistan Crypto Council (PCC) on March 14, 2025. Led by Finance Minister Muhammad Aurangzeb and Bilal Bin Saqib, the Prime Minister’s Special Assistant on Blockchain and Crypto, the PCC brings together key institutional figures. These include the heads of the State Bank of Pakistan, Securities and Exchange Commission, and federal ministries of law and IT.
The Council has also welcomed global experts like former Binance CEO Changpeng Zhao (CZ) as strategic advisors to help shape Pakistan’s digital asset policy.
Pakistan is moving fast to build a digital economy. At the Bitcoin 2025 Conference in Las Vegas, the government announced plans to create its first Strategic Bitcoin Reserve, a move aimed at long-term economic resilience.
To power blockchain and AI operations, 2,000 megawatts of surplus electricity has been allocated for mining and data centres. This aims to turn excess energy into a source of revenue through high-tech, sustainable infrastructure.
With over 40 million crypto users and an estimated $300 billion in informal trading volume, Pakistan is already a major player in digital assets. Its young population, strong digital growth, and unified policy approach now put it on track to become a regional leader in the global crypto economy.
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