Pakistan Creates Digital Assets Regulator PVARA to Oversee Crypto Industry
2025-07-08 15:47:34
Main Idea
Pakistan has established the Pakistan Virtual Asset Regulatory Authority (PVARA) to oversee its rapidly growing digital assets ecosystem, with notable advisors like CZ and Michael Saylor, amid a backdrop of 40 million crypto users and $300 billion in annual trading volume.
Key Points
1. PVARA is an independent regulator tasked with licensing and monitoring digital assets in Pakistan, with Finance Minister Muhammad Aurangzeb chairing the Pakistan Crypto Council.
2. Pakistan allocated 2,000 megawatts of surplus electricity for Bitcoin mining and AI, despite IMF resistance due to concerns over legality and power sector strain.
3. Former Binance CEO CZ and MicroStrategy's Michael Saylor are key advisors, providing institutional credibility to Pakistan's crypto strategy.
4. World Liberty Financial, linked to Donald Trump's family, signed agreements with the Pakistan Crypto Council, furthering DeFi regulatory frameworks.
5. PVARA will coordinate compliance with FATF, IMF, and World Bank guidelines while setting technical standards for the industry.
Description
Pakistan formally established the Pakistan Virtual Assets Regulatory Authority (PVARA) to oversee the country’s rapidly growing digital assets ecosystem, marking a significant shift in policy from its previous stance against cryptocurrencies . According to a report from Dawn , the federal cabinet has approved the creation of PVARA as an independent regulator for licensing, monitoring, and supervising virtual asset service providers, in alignment with the Financial Action Task Force guidelines. N...
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