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Policy
Pakistan Removes Seven-Year Restriction, Enabling Banks to Support Cryptocurrency Providers
The State Bank of Pakistan has notified all financial institutions in the country that they are now permitted to provide services to cryptocurrency firms, following the lifting of a seven-year ban. 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 assets. This development comes after the re…
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 companies, issuing a notice to all financial institutions in the country. 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 move comes after the implementation of the 2026 Virtual Assets…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Restriction, Enabling Banks to Support Crypto Providers
The State Bank of Pakistan has announced the lifting of its ban on providing services to cryptocurrency businesses, allowing banks and financial institutions to open accounts for crypto firms that have been approved under the newly established Virtual Asset Regulatory Authority (PVARA). However, the new regulations stipulate that banks are not permitted to use their own funds or customer deposit…
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 seven-year ban on cryptocurrency services, notifying all banks and financial institutions that they are permitted to provide services to crypto firms. However, banks are still barred from using their own funds or customer deposits to invest in, trade, or hold digital assets. This development comes after the recent enactment of the Virtual Asset…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Crypto Ban, Permitting Banks to Serve Crypto Firms
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, the new regulations stipulate that banks are not allowed to use their own funds or customer deposits to invest in, trade…
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 seven-year prohibition on banks providing services to cryptocurrency businesses. However, the new regulations stipulate that banks are still not allowed to invest in, trade, or hold cryptocurrency using either their own funds or customer deposits. This development comes after the implementation of the Virtual Assets Act of 2026, which establish…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Restriction, Enabling Banks to Support Cryptocurrency Providers
The State Bank of Pakistan has notified all banks and financial institutions that the prohibition on providing cryptocurrency services has been lifted. However, according to new regulations, banks are barred from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency assets. This move follows the recent implementation of the 2026 Virtual Assets Act, which establish…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Cater to Digital Asset Providers
In a significant move, Pakistan's central bank has officially lifted its seven-year ban on providing services to cryptocurrency firms. However, the new regulations stipulate that banks are not allowed to use 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 established the Pakistan Virt…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Ban, Enables Banks to Support Crypto Businesses
The State Bank of Pakistan has officially lifted its ban on providing services to cryptocurrency firms, notifying all banks and financial institutions of the change. However, the new regulations stipulate that banks are not permitted to use their own funds or customer deposits to invest in, trade, or hold cryptocurrency assets. This development follows the recent passage of the Virtual Assets Act…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Enables Banks to Support Digital Asset Providers
Pakistan's central banking authority has officially lifted its seven-year prohibition on banks providing services to cryptocurrency businesses. However, the new regulations stipulate that banks are not allowed to invest in, trade, or hold digital assets using their own funds or customer deposits. This move follows the recent passage of the 2026 Virtual Assets Act, which established the Pakistan V…
April 15, 2026, 1:01 p.m.