Pakistan has granted licences to Binance and HTX to carry out preparatory and related activities for crypto and digital currencies.
According to reports, the Pakistan Virtual Assets Regulatory Authority (PVRA) has issued No Objection Certificates (NOCs) to Binance and HTX. Sources said the issuance of the NOCs is part of efforts to establish a formal regulatory framework for Virtual Asset Service Providers (VASPs) and was granted after consultations with relevant government institutions and completion of a formal review process.
The NOCs state that Binance and HTX are permitted to undertake initial preparatory and advisory activities related to crypto and digital currencies in Pakistan. The objective of the Virtual Assets Regulatory Authority is to promote innovation, ensure market transparency, and protect consumers.
On this occasion, Federal Minister for Finance Senator Muhammad Aurangzeb said that the launch of the NOC framework reflects Pakistan’s commitment to financial discipline and responsible innovation. He added that the Virtual Assets Regulatory Authority is set to become the world’s first AI-driven regulatory authority.
The finance minister further said that the authority has already introduced AI-powered evaluation systems, document review mechanisms, and a recruitment portal, enhancing supervisory capacity through artificial intelligence and aligning Pakistan with global regulatory standards.
