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Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Support Crypto Businesses
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 licensed under the new Virtual Assets Act. However, banks are still barred from using their own funds or customer deposits to invest in, trade, or hold digital assets. The new rules follow the establishme…
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 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 cryptocurrency assets. This move follows the recent passage of the 2026 Vir…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Revokes Seven-Year Crypto Ban, Permitting Banks to Serve Crypto Firms
The central bank of Pakistan has notified all financial institutions in the country that the longstanding ban on providing services to cryptocurrency businesses has been lifted. However, under the new regulations, 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 recent introduction of the Virtual…
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 ban on providing services to cryptocurrency firms, notifying banks and financial institutions that they are now allowed to offer their services to these companies. However, financial institutions are still barred from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency. This move comes after the int…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Revokes 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 firms, notifying all banks and financial institutions that they can open accounts for licensed virtual asset service providers. However, banks are still barred from using their own funds or customer deposits to invest in, trade, or hold crypto assets. This move follows the recent passage of the 2026 V…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Offer Services to Crypto Providers
The central bank of Pakistan has officially lifted its seven-year ban on providing banking services to cryptocurrency businesses. However, financial institutions are still restricted from investing in, trading, or holding digital assets using their own funds or customer deposits. This move follows the introduction of the Virtual Assets Act of 2026, which established the Pakistan Virtual Asset Reg…
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 banks providing services to cryptocurrency firms, allowing them 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 recent introduction of the Virtual Assets Act …
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Restriction, Permitting Banks to Cater to Crypto Firms
The State Bank of Pakistan has officially notified all domestic banks and financial institutions that the longstanding ban on providing services to cryptocurrency entities has been revoked. Nevertheless, the new regulations stipulate that banks are still prohibited from engaging in cryptocurrency trading or holding digital assets using their own funds or customer deposits. This development …
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 businesses, allowing banks and financial institutions to open accounts for licensed crypto firms. 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 recent passage of the Virtual Assets Act of …
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 announced the lifting of a seven-year ban on providing services to cryptocurrency firms, allowing banks and financial institutions to offer their services to crypto businesses. However, these institutions are still barred from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency. The move follows the introduction of the 2026 Virtual…
April 15, 2026, 1:01 p.m.