US EditionCrypto NOCs Part of Supervised Market Entry, Not Blanket Approval: PVRA Chairman
PVARA's phased framework allows Binance and HTX to begin regulated market engagement with AML and local subsidiary requirements, supporting $2 billion asset tokenisation plans.
- On December 14, 2025 in Islamabad, Bilal bin Saqib said Pakistan Virtual Assets Regulatory Authority issued no-objection certificates to Binance and HTX as the first step under a risk-mitigated, phased, supervised entry framework but not a full operating licence.
- After a formal review with public‑sector stakeholders, PVARA said the framework focuses on governance, compliance and risk management and aims to enable effective AML/CFT monitoring and timely decisions.
- Firms may begin by registering on the FMU goAML system and engaging with the Securities and Exchange Commission of Pakistan, while the finance ministry's Binance MoU explores tokenising up to $2 billion in assets.
- PVARA projects annual trading linked to Pakistan above $300 billion and framed the NOCs as the first step toward a fully licensed market prioritising consumer protection and financial integrity.
- Finance Minister Muhammad Aurangzeb said the Binance MoU signalled Pakistan's reform trajectory and 'a long‑term partnership', while Changpeng Zhao called it `a great signal for the global blockchain industry and for Pakistan`, and Bilal outlined the plan at Bitcoin MENA 2025 earlier this week.
12 Articles
12 Articles
Crypto NOCs part of supervised market entry, not blanket approval: PVRA chairman
Chairman of the Pakistan Virtual Assets Regulatory Authority (PVRA) Bilal Bin Saqib on Sunday clarified that the issuance of No Objection Certificates (NOCs) to global crypto exchanges Binance and HTX should not be viewed as a blanket approval, but rather as the first step in a closely supervised and risk-mitigated market entry framework. Speaking at a press briefing, Saqib said the development marked a historic moment for the country. “The nati…
Geo News
Daily Lead PakistanBinance, HTX NOCs 'not blanket approval', says PVARA chief
30–40 million Pakistanis actively use digital assets.Phased model mirrors major global financial centres.Timely decisions needed under global financial system.Bilal bin Saqib, Special Assistant to the Prime Minister for Binance and Crypto...
NOCs to Binance, HTX not ‘blanket approvals’ but first step under supervised entry framework: Bilal bin Saqib
Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) Bilal Bin Saqib has said that the no-objection certificates (NOCs) issued to global cryptocurrency exchanges Binance and HTX were not a “blanket approval” but the “first step under a risk-mitigated, phased, supervised entry framework”. View this post on Instagram Saqib’s video statement, televised on Sunday, comes after Pakistan gave initial clearance for Binance and HTX on Fr…
Crypto in Pakistan: Promise at the Margins, Risk at the Core
For much of the past decade, cryptocurrency in Pakistan has lived in a space of contradiction. Millions of Pakistanis have used it informally, regulators have warned against it, and politicians have alternated between dismissing it and hinting at its potential. Today, that ambiguity is narrowing. The government has begun moving toward a regulated framework for virtual assets, issuing no-objection certificates to major international platforms and…
Landmark Regulatory Approval: Two Global Crypto Exchanges Secure NOCs, Bolstering Digital Asset Landscape
In a significant move poised to reshape the digital asset landscape, two prominent global cryptocurrency exchanges have officially been granted No Objection Certificates (NOCs) by local authorities. This landmark regulatory approval, confirmed by officials including Mr. Bilal, signals a decisive shift towards formalizing and expanding access to the crypto economy within the nation. The development, effective December 15, 2025, is expected to ush…
Coverage Details
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
