Pakistan has become one of the world’s fastest-growing crypto markets, ranking third globally in adoption, even though the country still does not have a formal regulatory framework. The update was shared by Bilal Bin Saqib, chairperson of the Pakistan Virtual Assets Regulatory Authority (PVARA), during his address at Binance Blockchain Week Dubai 2025.
According to Saqib, Pakistan’s strong crypto presence is driven mainly by its young and tech-savvy population. Millions of Pakistanis are using digital assets for saving, trading, freelancing payments, and cross-border transactions.
He highlighted that Pakistan now stands second in retail-size crypto transactions and third in centralized exchange activity, showing that the market is active at both local and international levels.
Despite this rapid adoption, Pakistan still does not have complete regulations for digital assets. To address this, PVARA is working on a structured framework that will include the licensing of crypto exchanges, wallet providers, custodians, and stablecoin issuers. The authority also aims to align Pakistan with global anti-money laundering (AML) standards, ensuring user safety and transparency.
Saqib emphasized that the goal is to balance innovation and investor protection, allowing the crypto sector to grow safely while attracting foreign investment and global partnerships. He noted that Pakistan’s unique position, high adoption without regulations, makes it an important case study for other developing countries.
With the right policies, Pakistan has the potential to become a regional hub for blockchain innovation. For now, the country’s strong demand shows that digital assets are becoming a mainstream financial tool for its people.
