PM Urges Fast-Track on Virtual Assets Regulatory Framework

Prime Minister Shehbaz Sharif directed authorities on Friday to expedite the operationalization of a comprehensive regulatory framework for virtual assets. The directive was issued during a meeting with Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA).

The premier emphasized the need for a robust and effective system to support innovation while ensuring oversight in the emerging sector. He also called for initiatives to equip youth with skills in modern technologies.

Saqib informed Sharif about PVARA’s transition into a fully operational regulator and the launch of a regulatory sandbox. The authority is preparing for the next phase of economic transformation, including innovations like AI-powered payments and regulated virtual asset services.

Earlier this month, the State Bank of Pakistan enacted the Virtual Assets Act 2026, designating PVARA as the statutory authority responsible for licensing, regulation, and oversight of virtual assets activities in the country. Any agreements or pilot projects involving virtual assets will require prior approval.