For nearly eight years, Pakistan's virtual asset sector had activity but no lawful banking rails. That changes now.
With
@StateBank_Pak enabling banks to open accounts for PVARA-licensed providers, Pakistan has moved from restriction to regulation, and from ambiguity to institutional clarity. Full AML/CFT safeguards are built in. FATF requirements are addressed. This is not a workaround. It is a regulated pathway.
When I took on this mandate, this was one of the most glaring gaps that needed closing. Grateful to SBP for the partnership in getting here.
PVARA will continue working closely with SBP and industry stakeholders as we move toward full licensing, responsible market enablement, and Pakistan's deeper integration into the global digital economy 🇵🇰
Pakistan has taken an important step toward formalising its virtual asset ecosystem.
Following the enactment of the Virtual Assets Act, 2026, the State Bank of Pakistan has issued BPRD Circular Letter No. 10 of 2026, enabling regulated entities to open and maintain bank accounts for PVARA-licensed Virtual Asset Service Providers and their customers, subject to strict compliance and AML/CFT requirements.
This marks a transition from a previously restrictive environment to a structured, regulated framework.
Establishing regulatory clarity is a critical step in enabling sustainable growth, attracting investment, and building trust in the ecosystem.
This development reflects continued coordination between policymakers, regulators, and industry stakeholders as Pakistan advances toward a fully regulated digital asset market.