🚀 Pakistan Opens Doors to Global Crypto Firms 🌎

Pakistan has invited international cryptocurrency exchanges and virtual asset service providers (VASPs) to apply for licenses to operate in the country, marking a significant step towards regulating its fast-growing digital economy. With over 40 million crypto users and an annual trading volume exceeding $300 billion, Pakistan is emerging as a major player in the global crypto landscape.

Key Highlights:

-Licensing RequirementsFirms must hold licenses from reputable regulators like the US SEC, UK FCA, EU's VASP framework, UAE's VARA, or Singapore's MAS, and demonstrate compliance with anti-money laundering (AML) and know-your-customer (KYC) protocols.

- Regulatory Framework:Pakistan's Virtual Asset Regulatory Authority (PVARA) aims to create a secure and transparent digital assets ecosystem aligned with global standards set by the Financial Action Task Force (FATF), International Monetary Fund (IMF), and World Bank.

- Shariah Compliance:The government has mandated Shariah-compliant services, ensuring adherence to Islamic finance principles

Global Ranking:

- Crypto Adoption: Pakistan ranks 3rd in global crypto adoption, with a rapidly growing user base and increasing trading volume.

- Growth Potential: The country's crypto market is expected to continue growing, driven by increasing adoption and regulatory clarity.#CryptoAdoption #Pakistan #BullRunAhead #altcycle #SummerOfSolana? $SOL $MANTA $APT