PM Shehbaz Demands Immediate Operationalisation of Virtual Assets Regulatory Framework
Prime Minister Shehbaz Sharif on Friday directed that an effective regulatory framework for Pakistan's virtual assets sector must be made fully operational at the earliest, underscoring the government's commitment to bringing digital financial instruments under a structured oversight regime.
The Prime Minister made the remarks during a meeting with Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority, Bilal bin Saqib, who briefed him on the authority's progress and the regulatory roadmap ahead. PM Shehbaz stressed that delays in operationalising the framework risked undermining investor confidence and leaving Pakistan's growing crypto economy without adequate safeguards.
The establishment of PVARA marks a significant policy shift, positioning Pakistan as one of the few countries in the region to move toward formal regulation of virtual currencies and blockchain-based financial products. The authority is tasked with licensing, supervising, and setting conduct standards for virtual asset service providers operating in the country.
Officials familiar with the discussions indicated that the Prime Minister has set a clear timeline expectation for the authority to become fully functional, with key licensing and compliance mechanisms to be activated in the near term. The development aligns with Pakistan's broader agenda to formalise its digital economy and attract technology-focused foreign investment.
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