Overview
- PVARA granted No Objection Certificates to Binance and HTX after reviewing governance, compliance and risk controls.
- The clearances are not operating licences and authorize AML registration, SECP engagement, local subsidiary setup and preparation of full VASP applications once rules are finalized.
- Pakistan’s finance ministry signed a non-binding MoU with Binance to assess tokenising up to $2 billion in sovereign securities and commodity reserves, subject to further approvals.
- Officials said only well-governed platforms will progress under a FATF-aligned framework focused on market integrity, consumer protection and financial discipline.
- Authorities highlight Pakistan’s large retail crypto participation and a rapid digital-finance overhaul that includes the Pakistan Crypto Council, a Virtual Assets Act and a CBDC pilot in 2025.