PVARA's advisory clarifies that any agreement or pilot involving virtual assets, including stablecoins for remittances and cross-border payments, requires prior approval under the Virtual Assets Act 2026. The authority warned that public announcements made without regulatory clearance could lead to compliance, reputational, and FATF-related risks. PVARA aims to support responsible innovation and encourages stakeholders to engage early through mechanisms like the regulatory sandbox and no action relief letters.
BUSINESSPublished 27 Apr 2026 • Published 2h ago
PVARA Requires Authorization for Virtual Asset Partnerships in Pakistan
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On April 27, 2026, the Pakistan Virtual Assets Regulatory Authority (PVARA) issued an advisory stating that all virtual asset pilots and partnerships involving users in Pakistan must obtain prior authorization. This move follows recent announcements by financial institutions regarding virtual asset initiatives, emphasizing the need for regulatory compliance to avoid risks associated with the Financial Action Task Force (FATF).
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