ISLAMABAD – Pakistan has granted permission to Binance and HTX for the development and operations of cryptocurrency and digital currency.
According to reports, the Pakistan Virtual Assets Regulatory Authority (PVRA) has issued an NOC to Binance and HTX.
The issuance of the NOC is part of efforts to establish a formal regulatory framework for Virtual Asset Service Providers. It was granted after consultations with government institutions and a formal review process.
The NOC states that Binance and HTX will be allowed to conduct initial development and advisory activities related to cryptocurrency and digital currency in Pakistan. The aim of the Virtual Assets Regulatory Authority is to promote innovation, ensure market transparency, and protect consumers.
On this occasion, Federal Finance Minister Senator Muhammad Aurangzeb said that the launch of the NOC framework is proof of Pakistan’s commitment to financial discipline and responsible innovation. He added that the Virtual Assets Regulatory Authority is becoming the world’s first AI-driven regulatory authority.
The finance minister said that the authority has introduced an AI-powered evaluation system, document review process, and recruitment portal. AI has improved monitoring capabilities and aligned Pakistan with global regulatory standards.
Chairman of the Pakistan Virtual Assets Regulatory Authority, Bilal Bin Saqib, said that today marks the beginning of a new era for Pakistan’s digital asset ecosystem. The issuance of the NOC is the first step toward a fully licensed and regulated environment.
Bilal Bin Saqib added that only platforms with strong governance and full global compliance will be able to move to the next stages of licensing. This robust framework strengthens Pakistan’s alignment with FATF standards.
He further said that every company entering the Pakistani market must meet high standards of transparency, governance, and risk management. With 30 to 40 million users, Pakistan is the world’s third-largest country in terms of crypto users, where annual digital asset trading volume exceeds 300 billion dollars.
