Pakistan, July 9 -- President Asif Ali Zardari has approved the Virtual Assets Act, 2025, establishing the Pakistan Virtual Asset Regulatory Authority (PVARA). This new federal authority will license, regulate, and supervise all entities dealing in digital assets. The Federal Cabinet endorsed the creation of the authority earlier this week. This marks a major shift in how Pakistan plans to oversee its growing virtual asset market.

PVARA has been granted full powers to ensure transparency, legal compliance, and financial integrity. It will also work to prevent illegal activities involving digital assets. The law aligns with international standards, including those of the Financial Action Task Force (FATF). The authority's board will inclu...