Pakistan’s Crypto Revolution: New Regulatory Body Launched! 🇵🇰🚀

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In a move that’s sure to make the IMF sweat, Pakistan has launched the Pakistan Virtual Assets Regulatory Authority (PVARA). This new independent regulator will be tasked with overseeing the country’s digital asset industry, including licensing, monitoring, and supervising virtual assets service providers.

According to a report by Dawn, PVARA will also ensure compliance with international standards, like the Financial Action Task Force (FATF) guidelines. This announcement follows a late May endorsement from Pakistan’s Ministry of Finance, which believes the country “must regulate not just to catch up, but to lead.”

Pakistan’s crypto push continues, despite IMF pushback 😒

Despite the International Monetary Fund (IMF) rejecting a proposal to offer subsidized power to energy-intensive industries, including Bitcoin miners, Pakistan is determined to expand into the crypto and digital finance space. The country has even earmarked 2,000 megawatts of surplus electricity for Bitcoin mining and AI centers.

In early June, Pakistan’s Minister of State for Crypto and Blockchain, Bilal Bin Saqib, met with Brandon Lutnick, the chairman and CEO of Cantor Fitzgerald, and New York City Mayor Eric Adams. They discussed “tokenization, Bitcoin mining, Pakistan’s Web3 future, and avenues of collaboration.”

Saqib also met with Robert “Bo” Hines, executive director of US President Donald Trump’s Council on Digital Assets, during a visit to the White House. The two discussed cooperation on crypto-centric initiatives, such as Pakistan’s mining operations or Bitcoin reserves.

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2025-07-08 15:26