Crypto operators given September 5 deadline to seek NOCs

According to Dawn, Pakistan's Virtual Assets Regulatory Authority has set September fifth as the deadline for existing virtual asset service providers to apply for no-objection certificates, warning that those who miss it must cease operations. The regulator says the licensing regime is now live, and the State Bank has replaced its earlier restrictions by allowing regulated banks to open accounts for licensed providers and their customers. Banks are barred from trading or holding virtual assets themselves, and must maintain separate rupee client accounts to prevent commingling. The move comes as Pakistan aims to open its digital asset economy with clear rules and oversight, though bankers note that crypto remains highly risky due to price volatility.

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