Advisory on Virtual Asset-Related Announcements and Activities

Reference No.:

PVARA/ADV/001/2026 Date:

April 26, 2026 Advisory on Virtual Asset-Related Announcements and Activities The Pakistan Virtual Assets Regulatory Authority (PVARA) has noted recent public announcements by financial institutions of Memoranda of Understanding (MoUs), pilots, and partnerships involving virtual assets, including the use of stablecoins for remittances and cross-border payments. This Advisory clarifies PVARA's regulatory position. Under the Virtual Assets Act, 2026, the provision of Virtual Asset Services to users in Pakistan, including the issuance, transfer, custody, exchange, or arrangement of virtual assets, stablecoins, and allied blockchain-based solutions, falls within the regulatory ambit of PVARA. Any agreement or announced pilot that results in, or directly enables, the provision of such services requires prior authorization from PVARA. Public announcements of such initiatives without prior engagement with PVARA may give rise to regulatory, reputational, and FATF compliance risks, including the possibility that the proposed activity may not lawfully proceed. PVARA remains committed to enabling responsible innovation. Any person (whether natural or legal) contemplating virtual asset pilots, stablecoin use cases, blockchain-based allied solutions, or tokenization structures should engage early with PVARA through the Regulatory Sandbox, No-Action Relief Letters, or the No Objection Certificate (NOC) process, and to seek prior authorization. For queries: team@pvara.gov.pk Issued by the Pakistan Virtual Assets Regulatory Authority Back to home