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Policy
Pakistan Revokes Seven-Year Crypto Ban, Enables Banks to Cater to Crypto Providers
The State Bank of Pakistan has officially notified all banks and financial institutions that the longstanding ban on providing services to cryptocurrency companies has been lifted. However, the new regulations stipulate that banks are not allowed to invest in, trade, or hold cryptocurrency using their own funds or customer deposits. This move follows the recent passage of the Virtual Assets Act o…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Support Virtual Asset Providers
The State Bank of Pakistan has officially lifted its ban on providing services to cryptocurrency providers, allowing banks and financial institutions to open accounts for crypto businesses 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, t…
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, allowing banks and financial institutions to open accounts for licensed virtual asset service providers. However, these institutions are still barred from using their own funds or customer deposits to invest in, trade, or hold cryptocurrencies. This move follows the introduction of the 2026 Vir…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Crypto Ban, Enabling Banks to Support Digital Asset Providers
The State Bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency businesses, notifying all banks and financial institutions that they can now open accounts for licensed crypto firms. However, banks are still barred from using their own funds or customer deposits to invest in, trade, or hold digital assets. This move follows the recent enactment of the 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 notified all banks and financial institutions that the long-standing ban on providing services to crypto companies has been lifted. However, under the new regulations, banks are restricted from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency. This development comes after the introduction of the 2026 Virtual Assets Act, which es…
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 firms, notifying all banks and financial institutions that they are now permitted to do so. However, the new regulations stipulate that banks are not allowed to use their own funds or customer deposits to invest, trade, or hold cryptocurrency. This development follows the recent introduction of the 20…
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 firms, allowing banks and financial institutions to open accounts for companies licensed under the new Virtual Assets Act. However, these institutions are still barred from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency. The new regulations permit banks to provi…
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 banking services to cryptocurrency firms, allowing banks to open accounts for licensed virtual asset service providers. However, financial institutions are still barred from using their own funds or customer deposits to invest in, trade, or hold cryptocurrencies. This development follows the introduction of the 2026 …
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 crypto services, notifying all banks and financial institutions that they are allowed to provide services to cryptocurrency firms. However, they are still barred from using their own funds or customer deposits to invest, trade, or hold cryptocurrency assets. This move follows the recent enactment of the Virtual Assets Act of 2026, which …
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Enables Banks to Support Crypto Firms
The State Bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency firms, allowing banks and financial institutions to open accounts for licensed crypto companies. However, these institutions are strictly prohibited from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency assets. This move follows the recent implementatio…
April 15, 2026, 1:01 p.m.