Pakistan has officially allowed global crypto exchanges Binance and HTX to begin work in the country’s cryptocurrency and digital currency space. Reports say the Pakistan Virtual Assets Regulatory Authority (PVRA) has issued a No-Objection Certificate (NOC) to both platforms as part of efforts to build a structured regulatory system for Virtual Asset Service Providers. The approval followed consultations with relevant government bodies and a detailed evaluation process.
Under the NOC, Binance and HTX are permitted to carry out initial development and advisory activities related to digital and virtual assets in Pakistan. PVRA aims to encourage innovation while ensuring transparency, regulatory oversight, and consumer protection in the market.
Federal Finance Minister Senator Muhammad Aurangzeb described the NOC framework as evidence of Pakistan’s commitment to financial discipline and responsible technological progress. He said PVRA is set to become the world’s first AI-driven regulatory authority.
According to the minister, PVRA has rolled out AI-based systems for application assessment, document verification, and recruitment, significantly enhancing monitoring while aligning the country with international regulatory practices.
PVRA Chairman Bilal Bin Saqib said the move signals the start of a new phase for Pakistan’s digital asset sector. He noted that the NOC is only the initial step toward a fully licensed and regulated ecosystem.
He added that only platforms meeting strict governance and global compliance standards will advance to full licensing, strengthening Pakistan’s alignment with FATF requirements. Every company entering the market must adhere to high benchmarks of transparency, governance, and risk management. With an estimated 30 to 40 million crypto users and annual trading volumes exceeding $300 billion, Pakistan ranks among the world’s largest digital asset markets.
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