Pakistan Sets September 5 Deadline for Crypto Firms to Register
Pakistan has set a near-term licensing deadline for crypto firms serving local customers. Companies operating before March 5, 2026 must apply for a No Objection Certificate by September 5 or face penalties for unlicensed activity. The new framework, issued by the Pakistan Virtual Assets Regulatory Authority, opens pathways for full licenses and a regulatory sandbox across exchanges, custody, brokerage, advisory, lending, derivatives, asset management, transfers, mining infrastructure, and token issuance. Applicants must be Pakistan-registered companies, meet capital and fitness standards, and maintain AML, cybersecurity, and continuity controls. Licensed firms must segregate customer assets and cannot use them without consent. After the NOC, firms must register with the Financial Monitoring Unit and set up a local subsidiary, forcing offshore exchanges to establish a Pakistan entity. The regime aims to protect investors, formalize the market, and expand access to banking.
