DawnPKcryptoAug 23, 2026, 3:47 AMImpact 42.42

Crypto operators given September 5 deadline to seek NOCs

KARACHI: The Pakistan Virtual Assets Regulatory Authority (PVARA) has set Sept 5 as the deadline for existing virtual asset service providers (VASPs) to submit applications for no-objection certificates (NOCs), warning that those failing to do so would have to cease operations. “Existing virtual asset service providers must submit their NOC applications by Sept 5, 2026 or cease operations,” PVARA said in a press release. Virtual assets or virtual currencies are not popular at the mass level in Pakistan, but financial sector watchers said several billion dollars had been invested by Pakistanis in the business. The government is quick to take several measures to regulate virtual assets, while the State Bank also took a number of measures in this regard. PVARA warns service providers failing to meet deadline must cease operations The PVARA said Pakistan’s virtual asset licensing regime was now live. “In under six months, Pakistan has moved from primary legislation to notified regulations and an open licensing process,” it added. The crypto assets sector has primarily been spearheaded and managed under the Ministry of Finance. The ministry helped launch the Pakistan Crypto Council (PCC