Pakistan PVARA: Launching virtual asset pilot projects and stablecoin operations requires prior authorization
Foresight News reports that the Pakistan Virtual Assets Regulatory Authority (PVARA) has stated that recently, financial institutions have issued announcements regarding virtual asset pilots involving stablecoin cross-border payments and remittances. PVARA has made it clear that, according to the 2026 Virtual Assets Act, providing virtual asset services within Pakistan—including issuance, transfer, custody, exchange, and related blockchain solutions—falls under its regulatory scope. Any agreements or pilot projects must first obtain authorization from PVARA. Plans released without prior communication may face regulatory, reputational, and FATF compliance risks, and related activities may not be able to proceed legally. Officials advise relevant parties to contact them as soon as possible through regulatory sandbox or a No Objection Certificate (NOC) process.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Yemen's Houthis vow more attacks on Saudi airports, oil facilities
Yen slips to a three-week low on US CPI, then recovers it all
Inflation surpasses expectations, impacting small-cap stocks; Russell 2000 drops nearly 2%, confirming a technical correction
On Wednesday, approximately four-fifths of the constituents in the Russell 2000 Index recorded declines. Since its peak in August, the index has dropped by 11%, falling below its 200-day moving average and entering a technical correction for the first time since March this year. Analysis indicates that with the US CPI rising more than expected and the probability of rate hikes increasing, small-cap, consumer, and transportation stocks are facing "sustained and long-term resistance."
Crypto prices
More
