Pakistan seeks partners for digital future

The Pakis­tan Virtual Asset Regulatory Authority (PVARA) has invited Expressions of Interest (EoIs) from leading global exchanges and Virtual Asset Service Providers (VASPs) to participate in the country’s emerging digital economy. Established under the Virt­ual Assets Ordinance 2025 (Ordinance No. VII of 2025), PVARA is mandated to formalise and regulate virtual assets in line with international standards set by the Financial Action Task Force (FATF), IMF and World Bank. The ordinance, promulgated on July 8 and published in the Gazette of Pakistan on July 9, empowers the authority to license, regulate and supervise VASPs, ensuring strong anti-money laundering (AML), counter-terrorism financing (CFT) and cybersecurity frameworks. The finance ministry, in a statement issued on Saturday, said Pakistan’s virtual asset market already has more than 40 million users, with annual trading volumes estimated at over $300bn, making it one of the world’s largest untapped frontiers.