Pakistan Permits Banking for Licensed Crypto Firms

Pakistan's central bank has authorized commercial banks to open accounts for licensed virtual asset service providers, reversing a long-standing ban and signaling a major shift toward digital asset regulation. The State Bank of Pakistan issued a circular overriding a 2018 prohibition, following the enactment of the Virtual Assets Act, 2026. This legislative framework aims to bring cryptocurrency-related businesses into the regulated financial fold under strict anti-money-laundering and compliance standards.