PM Shehbaz orders operationalisation of virtual asset regulatory system
Minister of State and Chairman Pakistan Virtual Assets Regulatory Authority Bilal bin Saqib calls on Prime Minister Shehbaz Sharif on Thursday. Photo: PMO
Prime Minister Shehbaz Sharif on Friday directed the early and full operationalisation of an effective, internationally aligned regulatory system for the virtual assets sector to promote the digital economy and enhance investor confidence.
The directive came during a meeting with Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib, the Prime Minister’s Office said in a statement.
According to the statement, the prime minister stressed the need to strengthen regulatory mechanisms in line with global standards.
لاہور: یکم مئی، 2026.
وزیراعظم محمد شہباز شریف سے وزیر مملکت اور چیئرمین پاکستان ورچوئل ایسیٹس ریگولیٹری اتھارٹی بلال بن ثاقب کی ملاقات ہوئی.
وزیرِ اعظم محمد شہباز شریف نے ہدیات کی کہ پاکستان میں ڈیجیٹل معیشت کے فروغ اور سرمایہ کاروں کے اعتماد میں اضافے کیلئے ورچوئل اثاثہ جات… pic.twitter.com/nEngUkqiaZ“An effective and internationally aligned regulatory system in the virtual assets sector should be made fully operational as soon as possible to promote the digital economy and increase investor confidence in Pakistan,” the prime minister said.
He also underlined the importance of equipping the country’s workforce with skills for emerging technologies.
“Youth should be provided training in modern technologies, particularly artificial intelligence and digital finance, so that the country’s human resources are aligned with future requirements,” he added.
During the meeting, Saqib briefed the premier on the operational transition of PVARA into a regulator, as well as the launch of a regulatory sandbox.
The briefing highlighted ongoing initiatives aimed at introducing innovation in areas such as AI-driven payment systems and regulated virtual asset services. It was also noted that work was underway to prepare national institutions, the workforce and the regulatory framework for the next phase of economic transformation driven by digital technologies.
The meeting followed Saqib’s interaction a day earlier with founders, chief executives, technologists, and financial innovators from Pakistan’s digital assets sector, where he was briefed on industry developments.
Pakistan is not watching the future of finance from the sidelines. We are building the rails for it.
At the Prime Minister’s Office, PVARA brought together technology entrepreneurs to discuss innovation can unlock the next chapter of Pakistan’s digital economy. pic.twitter.com/l6SBSttTWlSpeaking at the briefing, he urged stakeholders to increase investment in Pakistan across artificial intelligence, robotics, and blockchain.
He noted that Pakistan received $38.3 billion in annual remittances and had over 100 million adults outside the formal financial system, adding that virtual assets should be viewed as infrastructure rather than a peripheral technology trend.
The PVARA chairman also announced plans to establish a formal industry consultative group under PVARA to bring leading practitioners together with the authority for developing the regulatory framework.
Pakistan’s digital assets sector, he said, was entering a new phase with a defined legal structure and an active regulator.
PVARA was initially established in July 2025 through a presidential ordinance and later granted legal status through the Virtual Assets Act 2026, which formally set up the authority and its regulatory framework.
Under the law, measures will be implemented to prevent money laundering and terrorism financing. The authority has been mandated to licence virtual asset service providers operating in or from Pakistan, regulate markets, supervise compliance with financial and security standards, and ensure alignment with international requirements.
Last month, the State Bank of Pakistan allowed banks to open accounts for licensed virtual asset service providers, overriding a 2018 ban, as the country movef to integrate digital assets into the regulated financial system.
The move followed the enactment of the Virtual Assets Act, 2026, and marked Pakistan’s first formal step toward bringing crypto-related businesses into the banking system under strict anti-money-laundering and compliance rules.