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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 ban on providing banking services to cryptocurrency businesses. However, financial institutions are still restricted from using their own funds or customer deposits to invest in, trade, or hold digital assets. This development comes after the introduction of the Virtual Assets Act of 2026, which established the Pakistan Virtual Ass…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Restriction, Enables Banks to Cater to Crypto Businesses
The State Bank of Pakistan has officially notified all banks and financial institutions that the long-standing ban on providing services to cryptocurrency businesses has been lifted. However, under the new regulations, banks are strictly prohibited from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency assets. This development follows the recent passage of the…
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 banking services to crypto businesses, allowing financial institutions 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 cryptocurrency. This move follows the introduction of the Virtual Assets Act of 2026, which establish…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Cater to Crypto Firms
The central bank of Pakistan has officially lifted its seven-year prohibition on providing services to cryptocurrency companies, notifying all banking and financial institutions of the change. However, the new regulations stipulate that banks are not allowed to use their own funds or those of their customers to invest in, trade, or hold cryptocurrency assets. This development follows the recent p…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Crypto Ban, Permitting Banks to Offer Services to Crypto Firms
The State Bank of Pakistan has officially lifted its ban on providing services to cryptocurrency companies, allowing banks to open accounts for crypto firms licensed under the newly established Virtual Asset Regulatory Authority. However, banks are still restricted from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency. This decision follows the recent enactme…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Permitting Banks to Offer Services to Crypto Firms
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 services to these firms. However, the new regulations stipulate that banks are not permitted to invest, trade, or hold cryptocurrency using their own funds or customer deposits. This move comes afte…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Revokes 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 companies licensed under the newly established 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, or hold c…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Crypto Ban, Enabling Banks to Cater to Crypto Providers
The State Bank of Pakistan has announced the lifting of a seven-year ban on providing services to cryptocurrency businesses, allowing banks to offer their services to licensed crypto firms. However, the new regulations stipulate that banks are not permitted to use their own funds or customer deposits to invest in, trade, or hold crypto assets. This move comes after the introduction of the Vir…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Crypto Ban, Enables Banks to Support Digital Asset Providers
Pakistan's central banking authority 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 decision comes after the recent passage of the Virtual Assets Act of 2026, which established the Pakistan …
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 firms, allowing banks to open accounts for approved crypto businesses. However, financial institutions 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 Virtual Assets Act of 2026, which e…
April 15, 2026, 1:01 p.m.