Overview
- PVARA issued No Objection Certificates to Binance and HTX that allow goAML registration, local subsidiary setup with the SECP, and preparation of full VASP licence applications.
- The certificates are not operating licences and form part of a phased, FATF-aligned path that advances only well-governed, fully compliant platforms.
- Pakistan’s Finance Ministry signed an MoU with Binance to assess tokenizing up to $2 billion of sovereign bonds, treasury bills, and commodity reserves to improve liquidity and market access.
- The MoU confers no exclusivity or procurement commitment and any definitive agreements will be negotiated within six months under Pakistani law, pending required approvals.
- Officials frame the moves as bringing a large retail crypto market into regulated channels as Pakistan accelerates a broader digital‑finance overhaul.