Pakistan’s Virtual Assets Act, 2026: Legal Architecture of the PVARA Licensing Regime
ABS & Co has examined the enactment of the Virtual Assets Act, 2026 (the “Act” or “VA Act 2026”) and the subsequent operationalisation of the Pakistan Virtual Asset Regulatory Authority (“PVARA”) mark the most consequential structural change to Pakistan’s financial-services landscape in over a decade. The Act applies to all Virtual Asset Service Providers that carry on, or hold themselves out as carrying on a Virtual Asset Service in or from Pakistan, as well as to any Issuer that offers, originates or distributes, on its own behalf, a Virtual Asset in or from Pakistan.