ISLAMABAD: The Senate of Pakistan Saturday passed the Virtual Assets Bill 2026, marking a historic milestone in bringing the country’s digital asset sector under formal legal oversight and regulation.
The legislation establishes a comprehensive framework for the Pakistan Virtual Assets Regulatory Authority (PVARA) to license, regulate, and supervise virtual asset service providers operating in Pakistan. The Bill aims to protect investors, ensure market transparency, and align Pakistan’s digital asset framework with international standards.
Under the Virtual Assets Bill 2026, PVARA will oversee the registration and licensing of virtual asset exchanges, custody providers, and other service providers. The authority will establish conduct of business requirements, enforce customer safeguards, and implement measures to prevent money laundering and financial crime while promoting responsible innovation.
“The passage of this Bill through the Senate represents a defining moment for Pakistan’s digital economy,” said Bilal Bin Saqib MBE, Chairperson of PVARA. “We are transforming years of unregulated activity into a transparent, secure, and investor-friendly ecosystem that positions Pakistan as a credible jurisdiction for virtual assets.”
The legislation introduces comprehensive regulatory provisions including mandatory licensing for virtual asset service providers, customer protection requirements, anti-money laundering and counter-terrorism financing compliance, market surveillance mechanisms, and coordination with other financial regulators including the State Bank of Pakistan and Securities and Exchange Commission of Pakistan.
The Bill will now proceed to the National Assembly for consideration before receiving Presidential assent and becoming law. Pakistan ranks among the world’s largest cryptocurrency markets by adoption, with millions of citizens actively engaged in virtual asset activities. The Virtual Assets Bill 2026 provides the legal foundation to channel this organic growth into a regulated framework that balances innovation with investor protection and financial stability.
