Bilal Bin Saqib met with the Exchange Companies Association of Pakistan and digital-assets stakeholders on April 24, 2026 [1], to discuss cryptocurrency regulation.
This engagement marks a critical step in Pakistan's effort to formalize a regulatory framework for digital assets. By bridging the gap between traditional currency dealers and the crypto industry, the government aims to integrate virtual assets into the broader financial system while maintaining oversight.
Saqib serves as the Minister of State for Crypto and Blockchain and as the Chairman of the Pakistan Virtual Asset Regulatory Authority (PVARA). He was appointed to the PVARA chairmanship on an honorary basis for a term of three years [2].
During the discussions, the focus remained on the issuance of no-objection certificates (NOCs) to facilitate the operations of cryptocurrency exchanges. These certificates are intended to provide a legal pathway for global platforms to operate within the country's borders, a move designed to enhance the local digital asset ecosystem.
According to official reports, the government has already issued NOCs to two global cryptocurrency exchanges [3]. This action is part of a broader strategy to attract international investment and provide Pakistani users with regulated access to global markets.
The meeting with the Exchange Companies Association of Pakistan serves as a coordination effort to ensure that traditional money transfer services and new digital asset platforms can coexist. The PVARA is tasked with creating a stable environment that prevents financial instability while encouraging technological growth in the blockchain sector [1].
The integration of these exchanges is expected to streamline the flow of capital and provide a structured mechanism for the reporting, and taxation of digital assets. By involving the association of currency dealers, the ministry is addressing the practicalities of fiat-to-crypto conversions and the legalities of currency exchange in a digital age [1].
“The government has already issued NOCs to two global cryptocurrency exchanges.”
The issuance of NOCs to global exchanges suggests that Pakistan is shifting from a restrictive or ambiguous stance on cryptocurrencies toward a regulated, legalized model. By involving the Exchange Companies Association of Pakistan, the government is attempting to mitigate the risks of capital flight and money laundering by bringing digital asset transactions into the monitored financial perimeter.
