President Asif Ali Zardari has given his approval to the Virtual Assets Ordinance 2025, which marks a big step towards regulating digital assets and cryptocurrencies in Pakistan.
With this new ordinance, the government has set up the Pakistan Virtual Asset Regulatory Authority (PVARA). This new body will be responsible for looking after and controlling how virtual assets are managed in the country.
One of the key features of the ordinance is a proper licensing system for virtual asset service providers (VASPs). This means companies dealing with cryptocurrencies and other digital assets will now need official permission to operate. The rules are designed to make sure Pakistan’s system follows global standards, including the guidelines given by the Financial Action Task Force (FATF).
By bringing in these rules, the government hopes to stop illegal activities such as money laundering and terror financing, which can sometimes be linked to unregulated digital assets.
The ordinance was officially issued on July 8 under Article 89 of the Constitution. Because Parliament was on break, the government used its power to pass the law for the time being. This ordinance will stay valid for 120 days unless Parliament makes it a permanent law later.
At first, some confusion arose when it was mistakenly called an “Act,” but officials quickly cleared up the misunderstanding and confirmed that it is indeed an ordinance for now.
The new rules show that Pakistan is ready to join the global trend of regulating cryptocurrencies responsibly while ensuring financial security and transparency.
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