Regulators Advance Phased Framework for Global Exchanges Entering Pakistan
Pakistan has taken a major step toward establishing a regulated digital-asset ecosystem by granting no-objection certificates (NOCs) to Binance and HTX, allowing the exchanges to begin the process of securing local crypto licenses. The approval, issued by the Pakistan Virtual Assets Regulatory Authority (PVARA), marks a significant expansion of the country’s phased regulatory rollout.
In its announcement, PVARA emphasized that the clearances are intended to align the licensing regime with Financial Action Task Force (FATF) standards, highlighting strong governance, AML, and CFT compliance as core requirements for service providers. With the NOCs in hand, both exchanges can now engage with the Securities and Exchange Commission of Pakistan and establish domestic subsidiaries while preparing full license applications once the framework is finalized.
Finance Minister Muhammad Aurangzeb met with Binance CEO Richard Teng, Binance co-founder CZ, and HTX adviser Justin Sun as part of the initial engagement, calling the framework a meaningful step toward responsible innovation. Binance confirmed it had also obtained an AML registration from PVARA, moving it closer to full authorization.
The initiative follows PVARA’s recent progress on licensing, taxation guidelines, and broader international cooperation. PVARA Chairman Bilal bin Saqib has urged policymakers to treat Bitcoin and blockchain as foundational infrastructure, positioning digital assets as part of Pakistan’s long-term financial modernization strategy.
The approvals signal Pakistan’s growing intent to support regulated crypto activity while building a secure, transparent environment for global exchanges and local users alike.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.