Senate Approves Virtual Assets Bill To Regulate Cryptocurrencies

On February 25, 2026, the Standing Committee on the Cabinet Secretariat of the Senate of Pakistan unanimously approved the Virtual Assets Bill 2025, marking a significant shift in the country's approach to cryptocurrency regulation. This legislation aims to bring virtual assets into a formal legal framework, enhancing investor protection and transparency within the digital asset markets. Federal Minister for Parliamentary Affairs Tariq Fazal Chaudhry emphasized that the bill aligns Pakistan's regulations with global standards, stating, "This legislation will help align Pakistan’s virtual asset regulations with emerging global standards in digital finance." The bill proposes the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA), which will oversee licensing and compliance for Virtual Asset Service Providers (VASPs). Senator Dr. Afnan Ullah Khan noted, "Under the new law, there will be an authority that will have the power to give licenses in which crypto coins can be issued, in which mining can be done, and they will be able to regulate the whole (crypto) market."