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Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Offer Services to Crypto Providers
The State Bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency companies, allowing banks and financial institutions to open accounts for crypto firms. However, banks are still barred from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency. This development follows the recent passage of the Virtual Assets Act of 2026,…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Crypto Ban, Permitting Banks to Offer Services to Crypto Providers
The State Bank of Pakistan has officially lifted its seven-year ban on crypto services, allowing banks and financial institutions to provide services to licensed crypto companies. However, these institutions are not allowed to use their own funds or customer deposits to invest in, trade, or hold cryptocurrencies. This move follows the introduction of the 2026 Virtual Assets Act, which established…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Support Digital Asset Providers
The State Bank of Pakistan has officially lifted its ban on providing services to cryptocurrency firms, notifying all banks and financial institutions that they can now offer their services to these companies. However, banks are still barred from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency. This move follows the introduction of the 2026 Virtual Assets Ac…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Restriction, Enables Banks to Offer Services to Crypto Providers
The State Bank of Pakistan has notified all banking and financial institutions that the ban on providing services to cryptocurrency companies has been lifted. However, according to the new regulations, banks are prohibited from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency assets. This decision follows the recent passage of the Virtual Assets Act of 2026, …
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Restriction on Banks Serving Crypto Providers
The State Bank of Pakistan has notified all banks and financial institutions that the longstanding ban on providing services to cryptocurrency firms has been lifted. However, the new regulations stipulate that banks are not permitted to invest in, trade, or hold cryptocurrency using their own funds or customer deposits. This development follows the recent passage of the Virtual Assets Act of 2026…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Offer Services to Crypto Providers
The State Bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency companies, notifying all banks and financial institutions that they are now allowed to offer their services to these firms. However, banks are still not permitted to use their own funds or customer deposits to invest in, trade, or hold cryptocurrency assets. This decision follows the recent…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Enables Banks to Support Digital Asset Providers
The central bank of Pakistan has officially lifted its seven-year prohibition on providing services to cryptocurrency firms, allowing banks and other financial institutions to establish relationships with these entities. However, banks are still prohibited from directly investing in, trading, or holding digital assets using their own funds or customer deposits. This development follows the recent…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Serve Crypto Firms
The State Bank of Pakistan has officially lifted its ban on banks providing services to cryptocurrency businesses, allowing them to open accounts for licensed crypto firms. However, banks are still restricted from using their own funds or customer deposits to invest in, trade, or hold crypto assets. This move comes after the introduction of the 2026 Virtual Assets Act, which established the Pakis…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Enables Banks to Support Digital Asset Providers
The State Bank of Pakistan has officially lifted its ban on providing services to cryptocurrency companies, allowing banks to open accounts for licensed virtual asset service providers. However, banks are still restricted from using their own funds or customer deposits to invest in, trade, or hold cryptocurrencies. This move follows the introduction of the 2026 Virtual Assets Act, which establish…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Revokes Seven-Year Crypto Ban, Permitting Banks to Offer Services to Crypto Providers
The State Bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency companies, enabling banks to open accounts for licensed crypto firms. However, financial institutions are still prohibited from directly investing in, trading, or holding cryptocurrency using their own funds or customer deposits. This move follows the recent passage of the Virtual Assets Ac…
April 15, 2026, 1:01 p.m.