Pakistan’s proposed Virtual Assets Regulatory Authority (PVARA) has issued no-objection certificates (NOCs) to Binance and HTX as part of early, preparatory steps toward a regulated digital asset framework. These NOCs are not full licenses and are subject to strict anti-money laundering and compliance requirements.

In a separate development, Pakistan’s Finance Minister Muhammad Aurangzeb signed a non-binding memorandum of understanding with Binance CEO Richard Teng to explore the possible tokenization of financial instruments such as bonds and treasury bills. The agreement focuses on research and assessment rather than implementation.

Industry representatives, including Changpeng Zhao of Binance and Justin Sun of HTX, also met with government officials to discuss blockchain use cases and digital infrastructure. Authorities emphasized that any future partnerships will follow transparency and regulatory review.

PVARA stated that these steps are intended to support the development of a secure and compliant digital asset ecosystem for Pakistan’s growing crypto user community.

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