User Implications For users in Pakistan, the platform remains accessible and widely used, including support for P2P trading in Pakistani rupees. However, it is important to note: No Full Operating License Yet: The NOC is an initial clearance and does not yet constitute a full commercial operating license. Users are currently operating within a transitional, yet legal, framework.No Dedicated Tax Laws (Yet): There are no specific tax laws for cryptocurrencies currently; gains may be classified as income or capital gains. Traders should maintain meticulous records of their transactions. The evolving regulatory landscape signifies Pakistan's commitment to integrating digital finance into its economy and attracting investment into its growing crypto market, which is estimated at over $21 billion in investments.
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 This advisory is being withdrawn.Regulatory Framework in Progress: Pakistan is actively developing a comprehensive regulatory framework for virtual assets.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.