Finbold 2026-04-15 19:24:29

Pakistan ends 8-year bank ban on crypto dealings

Pakistan has lifted an 8-year ban on banks dealing in cryptocurrencies, thereby allowing financial institutions to open and maintain accounts for licensed Virtual Asset Service Providers (VASPs). On April 14, the State Bank of Pakistan (SBP), the central bank, issued a notice to banks, lifting the blanket prohibition on dealing in virtual currencies. As such, the ban, established under BPRD Circular No. 03 of 2018, was replaced by a structured, licensing-driven framework governing how banks may engage with the crypto sector. The move follows the enactment of the Virtual Assets Act, 2026, which established the Pakistan Virtual Asset Regulatory Authority (PVARA). The PVARA, which is chaired by Bilal Bin Saqib, is responsible for licensing and regulating virtual asset activities in the country. Under the new regulations, SBP-regulated entities may open segregated, Pakistani Rupee (PKR)-denominated Client Money Accounts for PVARA-licensed VASPs. However, banks must monitor all VASP relationships on an ongoing basis and report suspicious transactions under Pakistan’s Anti-Money Laundering Act, 2010. What is the impact of this regulatory move on Pakistan? This regulatory shift will have a profound impact on roughly 40 million Pakistanis, representing 17% of the country’s population, who are already invested in the crypto industry. Furthermore, the country ranked 3rd behind India and the United States in global cryptocurrency adoption, according to a report from Chainalysis . Global crypto adoption index score. Source: Chainalysis The new framework could also position Pakistan as an increasingly attractive destination for institutional crypto investors. Furthermore, Pakistan signaled its readiness to welcome institutional-grade crypto investors after it signed a memorandum of understanding with Binance , the world’s largest crypto exchange by trade volume, to explore the tokenization of up to $2 billion in bonds, treasury bills, and commodity reserves. The post Pakistan ends 8-year bank ban on crypto dealings appeared first on Finbold .

En Okunan haberler

Crypto.com Partners With NYSE-Listed Casino O...
2026-04-15
XRP Signals Breakout Setup, Shiba Inu (SHIB)...
2026-04-15
Shiba Inu active addresses plunge 33% in one...
2026-04-15
Google's Latest AI Update Makes Industrial Ro...
2026-04-15
Cardano’s Midnight Has A Big 180 Days Ahead,...
2026-04-15
UK moves closer to full crypto regulation as...
2026-04-15
Cantor Fitzgerald donates $10 million to cryp...
2026-04-15
Bitcoin traders cash out 63K BTC profit as pr...
2026-04-15

Feragatnameyi okuyun : Burada sunulan tüm içerikler web sitemiz, köprülü siteler, ilgili uygulamalar, forumlar, bloglar, sosyal medya hesapları ve diğer platformlar (“Site”), sadece üçüncü taraf kaynaklardan temin edilen genel bilgileriniz içindir. İçeriğimizle ilgili olarak, doğruluk ve güncellenmişlik dahil ancak bunlarla sınırlı olmamak üzere, hiçbir şekilde hiçbir garanti vermemekteyiz. Sağladığımız içeriğin hiçbir kısmı, herhangi bir amaç için özel bir güvene yönelik mali tavsiye, hukuki danışmanlık veya başka herhangi bir tavsiye formunu oluşturmaz. İçeriğimize herhangi bir kullanım veya güven, yalnızca kendi risk ve takdir yetkinizdedir. İçeriğinizi incelemeden önce kendi araştırmanızı yürütmeli, incelemeli, analiz etmeli ve doğrulamalısınız. Ticaret büyük kayıplara yol açabilecek yüksek riskli bir faaliyettir, bu nedenle herhangi bir karar vermeden önce mali danışmanınıza danışın. Sitemizde hiçbir içerik bir teklif veya teklif anlamına gelmez