Pakistan’s Crypto Council was launched on March 14, 2025, to help shape policy and coordinate work on digital assets and blockchain. It did not itself legalize cryptocurrency or become the licensing regulator. Pakistan’s current official framework instead identifies the Pakistan Virtual Assets Regulatory Authority (PVARA) as the federal regulator under the Virtual Assets Act, 2026; PVARA says covered services and some pilots require prior authorization.
What the Pakistan Crypto Council does
The Pakistan Crypto Council (PCC) was publicly launched on March 14, 2025. Radio Pakistan described its aims as developing policy, engaging public- and private-sector stakeholders, encouraging innovation, and supporting the integration of blockchain and digital assets into Pakistan’s financial system. Finance Minister Muhammad Aurangzeb was identified as the council’s chair.
The council’s role is policy development and coordination. That is different from regulating or licensing providers. The launch was an institutional and policy initiative, not a blanket legalization of cryptocurrency activity.
How Pakistan’s regulatory framework developed
March 2025: the council launches
The launch established a forum for policy work around digital assets and blockchain. It did not, by itself, set out a complete licensing system or make all crypto-related services permissible.
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May and June 2025: proposals and draft-rule discussions
On May 21, 2025, a government announcement proposed a Pakistan Digital Assets Authority (PDAA), describing a planned role that included licensing and compliance. That was the proposal at the time, not the name or legal status of the regulator identified in the current framework.
At a June 2, 2025 meeting, the PCC discussed a draft regulatory framework for digital and virtual assets and options for an autonomous authority. The government said a technical committee—including the State Bank, Securities and Exchange Commission of Pakistan, Law Division, and IT & Telecom Division—would review draft laws and propose a framework for the council to consider.
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March 2026: PVARA and the Virtual Assets Act
PVARA’s account of its legal basis says the Virtual Assets Act, 2026 established it as Pakistan’s independent federal regulator for virtual assets and virtual-asset service providers. PVARA’s website identifies an ordinance promulgated in July 2025 and the Act promulgated in March 2026. For current regulatory status, those later official descriptions supersede the earlier PDAA proposal.
Is cryptocurrency legal in Pakistan?
The council’s launch is not evidence that every form of crypto trading or service is legalized or unrestricted. The current official guidance described by PVARA focuses on authorization for regulated activity. It says services involving the issuance, transfer, custody, or exchange of virtual assets, as well as arranging those services, fall within its regulatory ambit. Stablecoins and allied blockchain solutions are also covered by the guidance.
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That means the practical question is not simply whether a person can call an activity “crypto” or “blockchain”; it is whether the activity amounts to a covered service or otherwise falls within PVARA’s requirements. The cited guidance does not establish that every individual’s holding or use of a virtual asset is treated identically to operating a service provider. Anyone planning a business, platform, or other organized activity should consult PVARA’s current requirements rather than infer permission from the PCC’s launch.
What PVARA says about pilots and authorization
PVARA says a pilot, agreement, or other arrangement that results in or directly enables covered virtual-asset services requires prior authorization. It directs prospective activity toward its sandbox, no-action relief, or no-objection certificate (NOC) processes. A pilot should therefore not be assumed exempt simply because it is limited, experimental, or described as a technology project.
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Before proceeding, an organization should identify what service it will actually provide, determine whether it falls within PVARA’s stated scope, and use the applicable authorization route. The council’s policy role does not substitute for that process.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What reported market figures do—and do not—show
Government releases cited substantial interest in digital assets, but the figures were reported without calculation methods in the releases. On February 25, 2025, the Press Information Department attributed a figure of more than 20 million active digital-asset users in Pakistan to remarks by the finance minister. On May 21, 2025, the government described a $25 billion-plus informal crypto market as an expected market to regulate. These are government-reported claims, not independently verified measurements established by the releases.
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The May 2025 announcement also included statements by officials describing goals such as consumer protection, investment, financial access, and new export channels. Those were policy aims, not evidence that the results had already been achieved.
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