The Pakistan Virtual Assets Regulatory Authority (PVARA) is the federal regulator that licenses and supervises virtual assets and Virtual Asset Service Providers (VASPs) in Pakistan. With the Virtual Assets Act, 2026 now in force, any business offering virtual asset services in or from Pakistan must be properly authorised.
MAH & Co. is a law firm that guides crypto exchanges, custodians, wallet providers, token issuers and blockchain startups through PVARA licensing, corporate structuring and ongoing compliance, so you can operate with legal certainty.
PVARA was first established through the Virtual Assets Ordinance, 2025. Parliament then passed the Virtual Assets Act, 2026, making PVARA a permanent statutory authority. The Act gives PVARA the power to issue, suspend and revoke licences, supervise VASPs, and enforce anti-money laundering and counter-terrorist financing requirements in line with FATF standards.
The Act applies to businesses that provide virtual asset services in or from Pakistan, and to issuers who offer or distribute virtual assets here. Operating without the required authorisation can lead to serious legal consequences.
We prepare and file No Objection Certificate applications through the PVARA portal, including ownership, AML/CFT and security documentation.
End-to-end support, from eligibility review and document preparation to responding to PVARA queries.
Guidance for firms that want to test virtual asset products under PVARA supervision before full licensing.
Incorporation of your Pakistani entity under the Companies Act, 2017, SECP and NTN registration, and an ownership structure suited to licensing.
Compliance manuals, KYC and onboarding policies, risk assessments and governance frameworks under the Virtual Asset Services Regulations, 2026.
Terms of service, user agreements, privacy policies, custody and client asset protection documents.
Regulatory advice, inspection support, and representation before PVARA and other authorities, including the SBP, SECP and FMU.
Market-entry advice for international exchanges and fintech firms setting up in Pakistan.
Barristers and High Court advocates with corporate, capital market and regulatory experience
Existing practice in SECP, PSX and securities licensing matters
Offices in Karachi and Islamabad
Clear communication and transparent fees
Online and in-person consultations
PVARA is Pakistan's independent federal regulator responsible for licensing, supervising and regulating virtual assets and VASPs under the Virtual Assets Act, 2026.
Virtual asset activity is now regulated. Businesses providing virtual asset services must hold the required PVARA authorisation, and unlicensed activity is an offence under the Act.
PVARA accepts applications for the Regulatory Sandbox, No Objection Certificates and VASP Licences. The right route depends on your business model and stage, and we advise on this in the first consultation.
Full commercial authorisation generally requires local incorporation under the Companies Act, 2017, along with satisfying PVARA’s compliance requirements.
Yes. We draft and review AML/CFT, KYC, governance and client asset protection policies required for licensing.
Use the appointment form, WhatsApp at +92 345 8231881, or call our Karachi office. Consultations are available in person or online.