Pakistan has opened the door to international cryptography companies, inviting the main exchanges and virtual asset service providers (VSP) to request licenses under a new federal regime.
On Saturday, Pakistan Virtual Asset Regulatory Authority (PVARA) called on large cryptographic companies to subject expressions of interest (ESO) to enter the country’s digital asset market, according to a local Dawn media report.
“This EOI is our invitation to the main vasts of the world to associate with the construction of a transparent and inclusive digital future for Pakistan,” said Bilal Bin Saqib, president of PVARA and Minister of State in Crypto and Blockchain.
The eligibility is limited to companies already authorized by recognized regulators, in particular the Securities and Exchange Commission (SEC), the UK Financial Conduct Authority, the EU Vasp framework, the regulatory authority for virtual water assets and the monetary authority of Singapore.
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Pakistan establishes strict entry criteria
Submissions should include business profiles, existing licenses and jurisdictions, services offered (such as trade, custody and payments), technological and security standards, assets under management, income, a history of compliance and a specific commercial model in Pakistan.
PVARA said that the framework aims to limit illegal finance while unlocking fintech opportunities, funding and tokenization, including products in accordance with sharia via regulatory sand bins.
PVARA, created as part of the 2025 virtual asset order, is responsible for granting license, regulation and supervision of basins in accordance with the standards established by the Financial Action Task Force (FATF), the International Monetary Fund (IMF) and the World Bank.
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Pakistan ranks 3rd in the global adoption of cryptography
As Cointelegraph reported, Pakistan has reached third place in the global clue to the cryptography of the chain channel in 2025, climbing six places and emerging as one of the fastest cryptographic markets in the world.
In May, Pakistan announced its intention to establish a Bitcoin strategic reserve led by the government. Speaking at the Bitcoin 2025 conference in Las Vegas, Bilal Bin Saqib said that this decision reflects the new Pakistan pro-scriptto regulatory approach.
The country has also assigned 2,000 megawatts of excess electricity for Bitcoin (BTC) and AI operating centers as part of an initiative led by Pakistan Crypto Council and supported by the Ministry of Finance.
However, in July, the IMF expressed its concerns concerning the Pakistan plan to use excess electricity for the exploitation of cryptography, rejecting a proposal to offer a subsidized power to industries with high energy intensity, including bitcoin minors.
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