Binance announced significant regulatory approval progress in Pakistan today, following strategic discussions between Binance's senior management and Pakistani government officials during a visit on December 5. The meeting, led by Binance co-CEO Richard Teng, symbolizes Binance's commitment to assisting Pakistan in establishing a regulated and secure digital asset ecosystem.

During this visit, Binance's senior management engaged in discussions with several key policymakers in Pakistan, focusing on regulatory processes, industry transparency, and the progress of the digital asset industry. These talks reaffirmed Pakistan's commitment to establishing a clear and forward-looking regulatory framework for virtual assets.

Binance has obtained Anti-Money Laundering (AML) registration in accordance with the framework of the Pakistan Virtual Assets Regulatory Authority (PVARA), marking an important step towards obtaining a full license and completing local registration in Pakistan. Through this phased approach, Binance will be able to provide cross-border services eligible for AML registration while preparing to obtain a full Virtual Asset Service Provider (VASP) license, in line with Pakistan's regulatory roadmap.

Binance Co-CEO Changpeng Zhao stated:

We are proud to continue our collaboration with the Pakistan Virtual Assets Regulatory Authority to build a robust, transparent, and inclusive virtual asset ecosystem. We are all committed to unleashing the potential of blockchain technology for the benefit of millions in Pakistan and beyond.

Chairman of the Pakistan Virtual Assets Regulatory Authority, Bilal Bin Saqib, stated:

Our partnership with Binance continues to deepen, as both parties are working together to create a transparent and innovative future for digital assets in Pakistan. Recent meetings have highlighted the positive regulatory progress made by Binance in the Anti-Money Laundering registration and licensing process, which is an important step in advancing our shared vision.

Binance will continue to support the development of the digital economy in South Asia and looks forward to continuing collaboration with local regulatory authorities and stakeholders to build a robust, transparent, and inclusive virtual asset ecosystem.

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