đ A Tale of Two Realities
On paper, **cryptocurrency remains banned in Pakistan**. The State Bank and Ministry of Finance have repeatedly declared that digital asset trading is illegal. Yet, behind the scenes, Islamabad is moving faster than ever to build a **regulatory framework for crypto**.
This strange mix of **ban + regulation** has made Pakistan one of the most-watched crypto stories in Asia.
đ What Changed in 2025?
* **Pakistan Crypto Council (PCC)** was formed in March, led by senior government officials and fintech leaders, with the goal of **drafting a full crypto policy**.
* **Virtual Assets Ordinance 2025** came into effect in July, creating the **Pakistan Virtual Assets Regulatory Authority (PVARA)** to license exchanges, ensure FATF compliance, and regulate the market.
* **Strategic Bitcoin Reserve** plans were announced, with 2,000âŻMW of surplus electricity allocated for crypto mining and AI data centers.
âď¸ The Crackdown Continues
While regulators prepare licensing rules, authorities are also:
* Shutting down unregistered crypto exchanges.
* Arresting individuals involved in blackâmarket transactions.
* Warning the public against using illegal trading apps.
This dual approach has left many retail traders confused:
**âIs crypto banned or legal now?â**
The reality: itâs still banned for the public, but a legal structure is being quietly built.
đ Why Itâs Trending
* **Big Ambitions vs Harsh Reality**: Pakistan wants to join the global crypto race but still faces IMF objections, energy crises, and trust issues.
* **Mining Plans Under Fire**: IMF has pushed back against subsidized electricity for crypto mining operations.
* **Investors Watching Closely**: From Binance to local traders, everyone is waiting for clear regulations before diving in.
â
What This Means for You
* Donât fall for rumorsâ**crypto is not legal tender yet** in Pakistan.
* **Licensed exchanges are expected soon**, but until then, risk of crackdown is high.
* The country is clearly moving toward **legalization**, so the coming months may decide the future of crypto here.
-đ§ Final Word
Pakistan stands at a **historic turning point**. With one foot in a ban and the other in full regulation, the crypto community is holding its breath. Whether this bold gamble pays offâor ends in more confusionâwill shape not just Pakistanâs digital future, but its role in the global crypto market.
âĄď¸ *Stay tuned â the next few months could be game-changing for crypto in Pakistan.*
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