Regulatory Alerts2026-07-12
Added · Updated
Pakistan Virtual Asset Regulatory Authority Sandbox Guidelines 2026
The Pakistan Virtual Asset Regulatory Authority establishes a controlled testing environment for innovative virtual asset products and services under the Virtual Assets Ordinance, 2025. Applicants must demonstrate fit-and-proper status, operational readiness, and robust risk management frameworks, including cybersecurity and consumer protection measures, to submit applications via Form I. The Authority conducts evaluations within sixty working days, issuing Letters of Approval with specific limits on transaction volumes or user numbers, and grants no-action relief for specified conduct during the test period. Participants are required to submit progress reports, notify the Authority of material incidents within one hour, and adhere to strict exit strategies or face suspension and revocation of approval.