Pakistan's Virtual Assets Regulatory Authority issued a regulatory notice requiring virtual asset service providers to obtain authorization in advance

According to the official announcement of the Virtual Assets Regulatory Authority of Pakistan (PVARA), all virtual asset services are included in the scope of PVARA supervision and must obtain prior authorization before business development or public announcement. PVARA expressed its welcome for responsible innovation and encouraged relevant participants to contact and communicate as soon as possible. Innovative business can be carried out through compliance paths such as regulatory sandboxes, No-Action Relief Letters and No-objection Letters (NOCs).