By BR Web Desk
Following endorsements from the Federal Cabinet, President Asif Ali Zardari has given his assent to the 鈥淰irtual Assets Act, 2025鈥.
The law establishes the Pakistan Virtual Asset Regulatory Authority (PVARA), an autonomous federal body empowered to license, regulate, and supervise entities dealing in virtual assets, read a statement.
On Monday, the Federal Cabinet formally approved the summary for the creation of PVARA, a landmark step towards establishing a comprehensive legal and institutional framework for overseeing the country鈥檚 rapidly growing digital assets ecosystem.
The authority has been granted comprehensive powers to ensure transparency, compliance, financial integrity, and the prevention of illicit activities, in alignment with international standards including those of the Financial Action Task Force (FATF).
As per the statement, the board of the authority will include key government stakeholders, such as the Governor of the State Bank of Pakistan (SBP), secretaries of finance, law and j