Pakistan Crypto Laws: Which Exchanges Are Legal, and What If None Are Licensed?
For years, crypto in Pakistan lived in a legal gray zone. Millions of people bought and sold Bitcoin and other coins, but no law clearly allowed it, and banks were told to stay away. That changed in 2025 and 2026. Pakistan now has a real crypto law and a regulator. But there’s a catch: as of writing, no exchange has a full operating license yet.
The New Law: The Virtual Assets Act, 2026
Pakistan’s parliament passed the Virtual Assets Act, 2026, replacing an earlier temporary rule (the Virtual Assets Ordinance, 2025) with permanent law. It creates a dedicated regulator called the Pakistan Virtual Assets Regulatory Authority (PVARA).
PVARA’s job is to license and supervise anyone offering crypto services to people in Pakistan. That includes:
- Crypto exchanges (platforms where you buy, sell, or swap coins)
- Custodians (companies that hold crypto on your behalf)
- Wa…
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