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Policy
Pakistan Revokes Seven-Year Crypto Ban, Permitting Banks to Provide Services to Crypto Firms
The State Bank of Pakistan has officially lifted its seven-year ban on providing banking services to cryptocurrency companies, 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 crypto assets. This move comes after the introduction of the 2026 Virtual Assets Ac…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Crypto Ban, Permitting Banks to Support Crypto Businesses
The State Bank of Pakistan has notified all banks and financial institutions that the ban on providing services to cryptocurrency businesses has been lifted. However, the new regulations stipulate that banks are not allowed to invest, trade, or hold cryptocurrencies using their own funds or customer deposits. This move follows the recent introduction of the Virtual Assets Act of 2026, which estab…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Crypto Ban, Enabling Banks to Support Crypto Companies
The State Bank of Pakistan has notified all financial institutions in the country that the long-standing 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 digital assets using their own funds or customer deposits. This move follows the recent passage of the Virtual Assets Act of 202…
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 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 Ass…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Ban, Permitting Banks to Offer Services to Crypto Firms
The State Bank of Pakistan has announced that it is lifting the ban on banks providing services to cryptocurrency companies. However, banks are still not allowed to invest in, trade, or hold cryptocurrency using their own funds or customer deposits, as per the new regulations. This move follows the recent introduction of the Virtual Assets Act 2026, which established the Pakistan Virtual Asset Re…
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, 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 in, trade, or hold cryptocurrency using their own funds or customer deposits. This move comes…
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 seven-year ban on providing services to cryptocurrency companies, allowing banks and financial institutions to open accounts for crypto firms that have been approved by the Pakistan Virtual Asset Regulatory Authority (PVARA). While the new rules permit banks to provide services to virtual asset service providers, they are strictly prohibited f…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Restriction on Banks Serving Crypto Providers
The State Bank of Pakistan has officially notified all banks and financial institutions that the longstanding ban on providing services to cryptocurrency firms has been lifted. However, banks are still barred from using their own funds or customer deposits to invest in, trade, or hold cryptocurrency assets. This development follows the recent passage of the 2026 Virtual Assets Act, which establis…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Reverses Seven-Year Crypto Ban, Allowing Banks to Support Digital Asset Providers
The central bank of Pakistan has officially lifted its seven-year ban on providing services to cryptocurrency companies, notifying all banks and financial institutions of the change. However, banks are still not allowed to use their own funds or customer deposits to invest in, trade, or hold cryptocurrency assets, according to the new regulations. This development follows the recent passage of th…
April 15, 2026, 1:01 p.m.
Policy
Pakistan Removes Seven-Year Crypto Ban, Enables Banks to Support Crypto Businesses
The State Bank of Pakistan has officially lifted its ban on providing services to cryptocurrency firms, allowing banks and financial institutions to offer their services to these businesses. However, banks are still restricted from using their own funds or customer deposits to invest in, trade, or hold crypto assets. This move follows the introduction of the Virtual Assets Act of 2026, which esta…
April 15, 2026, 1:01 p.m.