🔥🇵🇰 Pakistan Launches PVARA: Crypto Regulation with a Vision 🚀
Today, Pakistan’s federal cabinet approved the creation of the Pakistan Virtual Assets Regulatory Authority (PVARA) – an independent regulator to license and supervise Virtual Asset Service Providers (VASPs), fully aligned with FATF and global standards .
⚡ Key Highlights:
Licencing, AML, cyber‑risk, and consumer‑protection frameworks under one roof
Builds on the March-launched Pakistan Crypto Council, led by Bilal Bin Saqib and advised by Binance co‑founder CZ
Complements the June announcement of a Strategic Bitcoin Reserve and allocation of 2,000 MW surplus electricity for mining & AI centres
🧩 *Why it Matters:* Pakistan is formalising a $300 billion informal crypto market, setting the stage to become a regional digital‑finance hub. With 40+ million users and a young demographic, the ecosystem is primed for rapid growth .
🔍 Ongoing Oversight: IMF has raised concerns about electricity subsidies for mining, cautioning against energy-market distortions – prompting Pakistan to review the plan .
📝 In Summary:
Pakistan is taking a bold, structured step into crypto: regulation, sovereign reserves, infrastructure—all while addressing global compliance and macroeconomic concerns.
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