Foresight News reports that the Pakistan Virtual Assets Regulatory Authority (PVARA) has announced that recent financial institutions are rolling out pilot projects involving stablecoin cross-border payments and remittances. PVARA has made it clear that under the Virtual Assets Act of 2026, providing virtual asset services (including issuance, transfer, custody, exchange, and related blockchain solutions) within Pakistan falls under its regulatory scope. Any agreements or pilot projects must be authorized by PVARA in advance. Plans released without prior communication may face regulatory, reputational, and FATF compliance risks, and such activities may not be legally conducted. The officials recommend that relevant parties reach out to them early through regulatory sandboxes or No Objection Certificates (NOC) processes.