BINANCE OFFICALLY IN PAKISTAN Current Legal Status and Regulatory Developments
Not Banned, but Regulated: Cryptocurrencies were never explicitly illegal in Pakistan, but operated in a legal gray area following a 2018 advisory that told banks to avoid crypto transactions due to a lack of regulation. This advisory is being withdrawn.Regulatory Framework in Progress: Pakistan is actively developing a comprehensive regulatory framework for virtual assets. Key actions include:Formation of the Pakistan Crypto Council (PCC) in March 2025.Promulgation of the Virtual Assets Ordinance 2025 in July 2025, which established the PVARA to oversee the sector.Appointment of Binance founder Changpeng Zhao as a strategic advisor to the PCC. Initial Approvals (NOCs): The NOCs issued to Binance allow it to register with the Anti-Money Laundering (AML) system, set up local subsidiaries, and prepare full license applications. This is not a final operating license, but a green light to proceed within the transitional regulatory environment.Government Collaboration: The Pakistani government has signed a memorandum of understanding with Binance to explore the tokenization of up to $2 billion in sovereign assets, such as bonds and commodity reserves, highlighting a strong collaborative relationship aimed at integrating digital finance into the national economy.
