Pakistan Sets Crypto License Deadline

The update

Pakistan has launched its crypto licensing regime, requiring virtual asset service providers to apply for a no-objection certificate (NOC) by September 5, 2026. Companies that were operating in Pakistan before March 5 must submit their applications through the newly opened licensing portal or cease operations. The Pakistan Virtual Assets Regulatory Authority (PVARA) has moved from legislation to enforcement with this regulatory framework.

Why it matters

This regulatory shift formalizes Pakistan’s approach to cryptocurrency, creating a structured pathway for crypto businesses to operate legally. The framework covers activities including exchanges, custody, lending, derivatives, and mining services. Licensed providers will need to meet specific requirements including keeping customer assets separate from their own and implementing robust anti-money laundering controls.

What to watch

How many crypto firms will apply for NOCs before the deadline. Which major international exchanges might seek to enter Pakistan’s regulated market. How the regulatory framework will impact Pakistan’s crypto adoption compared to neighboring countries. What penalties will be enforced against non-compliant operators after September 5.

Sources

• coindesk.com — reporting on Pakistan's crypto licensing deadline and NOC requirement
• cointelegraph.com — details about PVARA's regulatory framework and licensing requirements