Overview
- Pakistan’s virtual assets regulator issued No Objection Certificates to Binance and HTX after a multi‑agency review of governance, compliance and risk controls.
- The NOCs allow registration on the Financial Monitoring Unit’s goAML platform, engagement with the SECP for local incorporation and preparation of full VASP licence applications.
- The clearances are not operating licences, and the exchanges must secure full authorization before offering services to the public.
- The Finance Ministry signed a non‑binding MoU with Binance to explore tokenising and distributing up to $2 billion in sovereign and real‑world assets, with any definitive deals to be decided within six months and subject to approvals.
- Officials frame the moves within a compressed overhaul that includes a draft Virtual Assets Act, a planned CBDC pilot and formal processes tailored to a large retail market often cited as third globally by activity.