Haciyev Reşit 
Pakistan has taken a notable step toward regulating its digital asset ecosystem. The Pakistan Virtual Assets Regulatory Authority (PVARA) announced that it has issued a No Objection Certificate (NOC) to two of the world’s leading crypto exchanges, Binance and HTX. This development is seen as one of the most concrete moves toward establishing a regulated and supervised crypto market in the country.
Regulatory Process Begins for Binance and HTX
With the NOC issued by PVARA, Binance and HTX have officially entered Pakistan’s regulatory integration process. While this approval does not yet constitute a full license, it paves the way for compliance with the country’s regulatory framework and is considered a crucial first step.
Under this process, both exchanges can now:
- Begin official discussions with Pakistani regulatory authorities,
- Enter registration procedures related to AML (Anti-Money Laundering) and CFT (Countering the Financing of Terrorism) requirements,
- Prepare for applications for full VASP licenses once the regulatory framework is finalized.
These steps are expected to strengthen regulatory compliance while helping build a more robust foundation for Pakistan’s digital asset market.3
FATF-Compliant and Phased Roadmap
PVARA’s approach is based on a FATF-compliant, phased, and controlled regulatory model. The authority aims to establish a framework centered on strong governance mechanisms, transparent reporting standards, and effective measures against financial crimes. This strategy clearly reflects Pakistan’s ambition to become a globally credible digital asset hub.
Officials emphasize that this regulatory pathway will increase confidence among both local and foreign investors and allow international crypto companies to enter the Pakistani market in a more controlled and sustainable manner. Over the long term, this approach is expected to significantly strengthen the country’s digital finance ecosystem.
CZ Comments: “This Is Just the Beginning in Pakistan”
Following the NOC approval by PVARA, Changpeng Zhao (CZ), founder and former CEO of Binance, shared a brief assessment of the development, describing it as “just the beginning in Pakistan.”
According to CZ, Pakistan’s young population and growing digitalization potential present significant opportunities for crypto adoption. As the regulatory framework becomes clearer, both user trust and global crypto companies’ interest in the country are expected to grow. His remarks suggest that Binance views Pakistan as part of its long-term strategic vision.
A Critical Milestone for Crypto Adoption in Pakistan
The issuance of NOCs to global exchanges like Binance and HTX is widely seen as a major milestone for the regulated adoption of cryptocurrencies in Pakistan. This move has the potential to create a safer market environment for both individual users and institutional participants. Experts believe it signals Pakistan’s transition toward a clearer, more predictable, and internationally aligned crypto policy.
PVARA’s decision to grant NOCs to Binance and HTX demonstrates Pakistan’s cautious yet determined approach to digital assets. With a strong emphasis on AML, CFT, and governance, this process supports the country’s long-term goal of building a regulated crypto ecosystem. In the coming period, applications for full licenses and additional regulatory steps are expected to follow.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.