President Asif Ali Zardari has approved the Virtual Assets Ordinance, 2025, under which the Pakistan Virtual Asset Regulatory Authority (PVARA) was established to regulate cryptocurrencies and other virtual assets in Pakistan. This move was made via a presidential ordinance (not a parliamentary act), enacted while the legislature was not in session, and remains in effect for 120 days pending parliamentary approval.

🏛 Ordinance issued July 8, 2025 under Article 89, creating PVARA, an independent regulator with powers to license and supervise crypto platforms



Initially called a “Virtual Assets Act,” authorities later clarified it’s an ordinance, not yet debated or passed by Parliament .

The new body includes a regulatory sandbox, Shariah advisory board, and appellate tribunal—all aiming to align crypto governance with international standards like FATF