Pakistan's parliament officially passed the Virtual Asset Act 2026 on March 6, marking a key step in the country's regulation of crypto assets. The act aims to establish a systematic and transparent legal framework to regulate the issuance, trading, and service provision of virtual assets. According to the act, Pakistan will establish a dedicated regulatory body, the Pakistan Virtual Asset Regulatory Authority (PVARA), responsible for setting industry standards, implementing compliance reviews, and combating money laundering and illegal financing. This move is intended to create a stable development environment for local digital asset companies while attracting international investors to the Pakistani crypto market. Previously, Pakistan's attitude towards cryptocurrencies was relatively cautious. This legislation is seen as an important measure by the government to strike a balance between technological innovation and financial security. With the implementation of the regulatory framework, local exchanges, wallet service providers, and blockchain projects are expected to receive clearer operational guidance in the future, promoting the healthy growth of the crypto ecosystem in Pakistan.
