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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 ban on providing services to cryptocurrency firms, notifying all banks and financial institutions that they can now offer services to these companies. However, banks are still barred from using their own funds or customer deposits to invest in, trade, or hold cryptocurrencies. This move follows the recent passage of the 2026 Virtual Assets Act,…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Serve Crypto Firms
The central bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency companies, allowing banks to open accounts for crypto firms licensed under the newly enacted Virtual Assets Act. However, financial institutions are still barred from using their own funds or customer deposits to invest in, trade, or hold crypto assets. The new rules, which replace the 20…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Enabling Banks to Support Digital Asset Providers
The State Bank of Pakistan has officially lifted its ban on providing services to cryptocurrency businesses, notifying all banks and financial institutions of the change. However, the new rules stipulate that banks are not allowed to use their own funds or customer deposits to invest in, trade, or hold cryptocurrencies. 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 Support Digital Asset Providers
The central bank of Pakistan has officially lifted its seven-year prohibition on providing banking services to cryptocurrency businesses. However, financial institutions are still barred from using their own funds or customer deposits to invest in, trade, or hold digital assets. This development follows the recent passage of the Virtual Assets Act of 2026, which established the Pakistan Virtual A…
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 longstanding ban on providing services to cryptocurrency businesses, notifying all banks and financial institutions of the change. However, the new regulations stipulate that banks are not allowed to use their own funds or customer deposits to invest in, trade, or hold cryptocurrency. This development comes on the heels of the newly enacted 202…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Repeals Seven-Year Crypto Ban, Permitting Banks to Cater to Digital Asset Providers
The State Bank of Pakistan has officially lifted its seven-year prohibition on banks providing services to cryptocurrency businesses. However, financial institutions are still barred from using their own funds or customer deposits to invest in, trade, or hold digital assets. This development follows the introduction of the 2026 Virtual Assets Act, which led to the establishment of the Pakistan Vi…
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 banking services to cryptocurrency companies. However, financial institutions are still not allowed to use their own funds or customer deposits to invest in, trade, or hold digital assets. This move follows the recent passage of the Virtual Assets Act of 2026, which established the Pakistan Virtual Asset Regulatory A…
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, allowing banks and financial institutions to open accounts for approved crypto companies. However, these institutions are still barred from using their own funds or customer deposits to invest in, trade, or hold digital assets. This move follows the introduction of the 2026 Virtual Assets Act, …
April 15, 2026, 1:01 p.m.
Policy
Pakistan Revokes Seven-Year Crypto Ban, Permitting Banks to Serve Crypto Firms
The State Bank of Pakistan has officially lifted its ban on providing banking services to crypto companies, allowing financial institutions 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…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Crypto Ban, Permitting Banks to Offer Services to Crypto Providers
The State Bank of Pakistan has officially lifted its ban on providing services to cryptocurrency businesses, allowing banks and financial institutions to open accounts for crypto firms that have been approved by the Pakistan Virtual Asset Regulatory Authority (PVARA). However, under the new regulations, banks are not allowed to use their own funds or customer deposits to invest in, trade, or hol…
April 15, 2026, 1:01 p.m.