Pakistan has moved closer to formally regulating crypto and digital finance after the Senate’s Standing Committee on the Cabinet Secretariat unanimously approved the Virtual Assets Bill 2025. The legislation aims to bring crypto and other virtual assets under a clear legal and regulatory structure, marking a significant development in the country’s evolving digital economy.
The primary objective of the bill is to strengthen investor protection, improve transparency, and ensure proper oversight of crypto markets. It proposes the creation of a specialized regulatory authority to supervise Virtual Asset Service Providers (VASPs). Under the new framework, crypto-related businesses would be required to obtain licenses and comply with defined operational and financial standards. These measures are intended to reduce risks associated with virtual asset transactions, including fraud, misuse, and financial instability.
The bill was approved during a meeting chaired by Senator Rana Mahmood ul Hassan. After detailed discussions, committee members described the legislation as a milestone for Pakistan’s financial ecosystem, particularly as crypto adoption continues to grow globally. Federal Minister for Parliamentary Affairs Tariq Fazal Chaudhry presented the bill and outlined its regulatory scope, stating that the framework would help align Pakistan’s crypto regulations with emerging international standards.
Lawmakers emphasized that a structured crypto regime would not only protect investors but also encourage responsible innovation in blockchain-based finance. By introducing proper monitoring and compliance mechanisms, the government aims to integrate crypto into the formal economy while maintaining financial stability.
In a separate session, the committee also reviewed a United Nations fact-finding report and discussed flood damage concerns in Sindh and Balochistan, highlighting the need for improved coordination and resource allocation.
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